Exela Technologies Announces Receipt of Notification Letter from Nasdaq Due to Timing of Filing on Form 10-K
April 03 2020 - 4:05PM
Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA), a
location-agnostic global business process automation (BPA) leader
across numerous industries, today announced that on April 2,
2020, the Company received an anticipated notice (the
“Notice”) from the Staff of the Listing Qualifications Department
of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company
that, as a result of its failure to timely file its Annual Report
on Form 10-K for the year ended December 31, 2019 (the “Form
10-K”), it is not in compliance with Nasdaq Listing Rule 5250(c)(1)
(the “Rule”), which requires timely filing of periodic reports with
the SEC.
In the Notice, Nasdaq indicated that the Company has 60 calendar
days from the date of the Notice (or until June 2, 2020) to submit
a plan to regain compliance with Nasdaq’s continued listing
requirements. If such a plan is timely submitted by the Company,
the Nasdaq staff may grant the Company up to 180 calendar days from
the due date of the Form 10-K, or until September 28, 2020, to
regain compliance.
About Exela TechnologiesExela is a business
process automation (BPA) leader, leveraging a global footprint and
proprietary technology to provide digital transformation solutions
enhancing quality, productivity, and end-user experience. With
decades of experience operating mission-critical processes, Exela
serves a growing roster of more than 4,000 customers throughout 50
countries, including over 60% of the Fortune® 100. With
foundational technologies spanning information management, workflow
automation, and integrated communications, Exela’s software and
services include multi-industry department solution suites
addressing finance and accounting, human capital management, and
legal management, as well as industry-specific solutions for
banking, healthcare, insurance, and public sectors. Through
cloud-enabled platforms, built on a configurable stack of
automation modules, and over 22,000 employees operating in 23
countries, Exela rapidly deploys integrated technology and
operations as an end-to-end digital journey partner.
Forward-Looking Statements: Certain
statements included in this press release are not historical facts
but are forward-looking statements for purposes of the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. Forward-looking statements generally are accompanied by words
such as “may”, “should”, “would”, “plan”, “intend”, “anticipate”,
“believe”, “estimate”, “predict”, “potential”, “seem”, “seek”,
“continue”, “future”, “will”, “expect”, “outlook” or other similar
words, phrases or expressions. These forward-looking statements
include statements regarding our industry, future events, the
estimated or anticipated future results and benefits of the
Business Combination, future opportunities for the combined
company, and other statements that are not historical facts. These
statements are based on the current expectations of Exela
management and are not predictions of actual performance. These
statements are subject to a number of risks and uncertainties,
including without limitation those discussed under the heading
“Risk Factors” in Exela’s most recently filed Annual Report on
Form-10-K filed with the Securities and Exchange Commission. In
addition, forward-looking statements provide Exela’s expectations,
plans or forecasts of future events and views as of the date of
this communication. Exela anticipates that subsequent events and
developments will cause Exela’s assessments to change. These
forward-looking statements should not be relied upon as
representing Exela’s assessments as of any date subsequent to the
date of this press release.
Find out more at www.exelatech.com.Follow Exela on
LinkedIn: https://www.linkedin.com/company/exela-technologies/Follow
Exela on Twitter: https://twitter.com/exelatech
Media Contact: Kevin McLaughlin
E: kevin.mclaughlin@icrinc.com
T: 646-277-1234
Investor Contact: William Maina
E: IR@exelatech.com T:
646-277-1236
Exela Technologies (NASDAQ:XELA)
Historical Stock Chart
From Apr 2024 to May 2024
Exela Technologies (NASDAQ:XELA)
Historical Stock Chart
From May 2023 to May 2024