The stock exhibits a wide range of increases throughout the week. On Monday, Exela Technologies’ stock was trading at a low of $0.3504, and today the price fantastically jumped by 15% to $0.6294. Currently, the pre-market trading sessions show a favorable sign of 6% to $0.6710.
Why is the price rising so much? The company announced that it was going to offer as many as up to 100 million shares of common stock at $1 per share through an exchange offer of New Notes. It should be noted, that if the ordinary shares put up for auction are freely traded, new banknotes received on the exchange will be freely sold.
Exela plans to list the New Notes under the symbol “XELAA” on the NYSE American Exchange or the Nasdaq. Trading in the New Notes is scheduled to begin within 30 days of the listing approval if this application is approved. By the way, shareholders who own their shares through a brokerage firm, for instance, Schwab, TD Ameritrade, Fidelity, Robinhood, etc., should contact their brokerage firm and follow the brokerage firm’s procedures to instruct the broker to offer shares of common stock. At this point, the company’s market capitalization is $ 163 million.