Randal T. Klein, a director, reported the purchase of 150,000 shares of XBP Global Holdings, Inc. common stock on 08/18/2025. The Form 4 shows the transaction coded as a purchase (Code P) at a weighted-average price of $0.5355 per share, with the reported execution prices ranging from $0.5050 to $0.5500. After these purchases Mr. Klein beneficially owns 150,000 shares directly, according to the form. The filing includes a disclosure that Mr. Klein is an employee of Avenue Capital Management II, L.P. or an affiliate and that Avenue and certain affiliates may be deemed to beneficially own issuer securities, while Mr. Klein expressly disclaims any beneficial ownership that may be attributed to those entities.
XBP Global Holdings, Inc. (formerly XBP Europe) reported revenue of $39.4M for the quarter and $77.0M for the six months ended June 30, 2025, up from $33.5M and $71.6M a year earlier, respectively, reflecting growth in core Bills and Payments and Technology markets. Accounts receivable rose to $33.6M, supported by $8.0M of unbilled receivables, and total assets increased to $105.2M.
Profitability weakened: consolidated net loss was $6.9M for the quarter and $11.2M for six months, driven by continuing and discontinued operations. Cash fell to $6.1M and total debt was $32.3M (long-term debt net of current maturities $25.6M). The company disclosed a significant discontinued on-demand printing business loss and retained a litigation accrual (~$0.8M). Management notes the July 2025 acquisition of Exela Technologies BPA closed after the reporting period and is not included in these results.
XBP Europe Holdings furnished a press release reporting financial results for the quarter ended June 30, 2025, included as Exhibit 99.1, and posted an investor presentation to its website, included as Exhibit 99.2. The company explicitly states these materials are furnished (not "filed") for purposes of the Exchange Act and are not incorporated by reference into other filings unless specifically referenced.
The 8-K lists the two exhibits and the Inline XBRL cover page but does not include the press release text or financial tables within the body of the filing itself; the report is signed by the company’s Chief Financial Officer.
Sanjay Srivastava, identified as a Director of XBP Global Holdings, Inc. (XBP), submitted an initial Form 3 reporting the event dated 07/29/2025. The filing states no securities are beneficially owned by the reporting person. The form was signed on 08/08/2025 and was filed by a single reporting person. The document includes the reporting person's business address in Irving, TX 75063.
Regina Paolillo, identified as a director of XBP Global Holdings, Inc. (XBP), filed an initial Form 3 reporting the event date 07/29/2025. The filing states that no securities are beneficially owned by the reporting person. The submission is signed by Regina Paolillo and dated 08/08/2025.
Event: On 07/29/2025 Exela Technologies, Inc., through wholly owned subsidiaries XCV-STS, LLC and GP 3XCV LLC, received 27,037,562 shares of common stock ($0.0001 par) of XBP Europe Holdings, Inc. (Issuer: XBP) pursuant to the closing of restructuring transactions under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas, Case No. 25-90023 (Docket No. 826).
Derivatives and record ownership: The subsidiaries entered into warrant agreements for 6,632,418 Warrant Shares, exercisable 07/29/2025 and expiring 07/29/2030, with an exercise price of $4.98. XCV-STS and GP 3XCV are the record holders and beneficial ownership is reported as indirect. The Form 3 was signed by Par Chadha on 08/06/2025. Relationship to issuer: Director.
HoldCo Asset Management and affiliates disclose a 6.7% stake in XBP Global Holdings (CUSIP 98400V101) via a Schedule 13D. HOF III Liquidating Partnership LP and related entities now jointly own 7,871,416 common shares, obtained on 29 July 2025 when XBP consummated the Exela Technologies BPA Chapter 11 restructuring.
Under the court-approved Plan, HOF III exchanged First-Priority Senior Secured Notes for the equity stake and received $15.38 million principal of new 12.0% 2030 Rollover Exit Notes. It also funded $3.33 million of a $40 million New Money Loan through a Facility Agreement signed the same day.
The reporting group—comprising HOF III, VM GP VII LLC, HoldCo Asset Management LP, VM GP II LLC, and principals Michael Zaitzeff and Vikaran Ghei—shares voting and dispositive power over all shares. No member holds sole voting or dispositive power.
Intent: The investors describe the purchase as part of the restructuring but signal typical activist flexibility: they may buy or sell additional shares, engage with management, propose strategic or capital-structure changes, or use derivatives. No concrete takeover or board change plan is currently disclosed.
The ownership percentage is calculated against 117,516,255 shares outstanding as of 29 July 2025.
Avenue Capital–managed funds have become a 10.30 % shareholder of XBP Global Holdings (CUSIP 98400V101) after the issuer’s July 29 2025 Chapter 11 emergence.
The group exchanged $120.9 million of 11.5 % April 2026 notes for 10,461,180 common shares and received 1,448,038 additional shares as a DIP back-stop fee, bringing total ownership to 12,107,907 shares out of 117,516,255 outstanding. They also obtained $47.6 million of new 12 % first-priority senior secured notes due 2030 and funded $1 million of exit financing.
Fund-level stakes: RP Opportunities Fund 6.56 million shares (5.59 %), Global Dislocation Fund 4.08 million (3.47 %), Global Opportunities Fund 1.46 million (1.24 %). Marc Lasry is deemed beneficial owner of the aggregate stake.
The restructuring grants the creditor group four board seats (Paolillo, Pryor, Srivastava, Klein) and broad shelf, demand and piggy-back registration rights. Securities were acquired for investment; Avenue may adjust its position based on market and strategic considerations.