Exela Technologies Says Recently-Announced At-The-Market Equity Program Raised $85M Of Proceeds

Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ:XELA), a location-agnostic global business process automation (“BPA”) leader across numerous industries, today announced that its recently announced $150 million at-the-market equity program has significantly improved its liquidity position by raising $85 million of proceeds. The Company plans to use certain proceeds from the equity program to strategically reduce its debt and associated interest expense obligations as well as explore ways to invest in its growth, in line with the previously announced strategic initiative. As an initial step, Exela intends to target an annual debt service reduction of $25 million.