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.
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.
There is an initial funding provision of approximately $92 million, plus a further funding provision of approximately $53 million, subject to certain conditions.
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.