Let’s take a glance at why Exela Technologies, Inc. (XELA) broke barriers in the AH session

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.

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There is an initial funding provision of approximately $92 million, plus a further funding provision of approximately $53 million, subject to certain conditions.

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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.

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