Exela Technologies, Inc. (NASDAQ: XELA) shares booms in the post-market session as it rose 12.46% to $0.401 after a leading global business process automation company XELA, announced that it has entered into a 5-year, $145 million term loan facility with Angelo.
Gordon, a global alternative investment firm.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
There is an initial funding provision of approximately $92 million, plus a further funding provision of approximately $53 million, subject to certain conditions.
Read More
Exela will use a portion of the proceeds from the initial funding to retire all outstanding debt under its accounts receivables securitization facility of about $83 million.
Exela’s subsidiaries are bound by the First Lien Credit Agreement, dated July 12, 2017, as amended. Accordingly, liquid assets will exceed $140 million if the new facility is fully funded.
On that basis, the Company will substantially achieve its previously announced goal to improve its liquidity to approximately $150 million. Additional information about the transactions is included in the 8-K filed by the company.
