EXELA TECHNOLOGIES, INC. Form 8-K: Current report
Filings on SEC EDGAR, newest first; amendments sit with their base form. Values are as filed.
- 2020-12-30: Form 8-K; Period of report 2020-12-29; Description 5.07 Submission of Matters to a Vote of Security Holders; Details 5.07.
- 2020-12-17: Form 8-K; Period of report 2020-12-17; Description 1.01 Entry into a Material Definitive Agreement; 1.02 Termination of a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant; Details 1.01.
- 2020-11-10: Form 8-K; Period of report 2020-11-09; Description 2.02 Results of Operations and Financial Condition; Details 2.02.
- 2020-08-11: Form 8-K; Period of report 2020-08-10; Description 2.02 Results of Operations and Financial Condition; 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing; Details 2.02.
| Filed | Form | Period of report | Description | Details | Document |
|---|---|---|---|---|---|
| 2020-12-30 | 8-K | 2020-12-29 | 5.07 Submission of Matters to a Vote of Security Holders | 5.07 The Annual Meeting of Shareholders of Exela Technologies, Inc. (the “Company”) was held on December 29, 2020. | tm2039538d1_8k.htm |
| 2020-12-17 | 8-K | 2020-12-17 | 1.01 Entry into a Material Definitive Agreement; 1.02 Termination of a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant | 1.01 Entry into a Material Definitive Agreement. 1.02 On December 17, 2020, the Company repaid in full the loans outstanding under the Loan and Security Agreement (the “Existing Receivables Securitization Facility”), dated as of January 10, 2020, by and among Exela Receivables 1, LLC, a wholly-owned indirect subsidiary of the Company, the lenders party thereto, TPG Specialty Lending, Inc., as administrative agent, and the Company, as initial servicer. 2.03 The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference. | tm2038642d1_8k.htm |
| 2020-11-10 | 8-K | 2020-11-09 | 2.02 Results of Operations and Financial Condition | 2.02 On November 9, 2020, Exela Technologies, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2020. | tm2035430-1_8k.htm |
| 2020-08-11 | 8-K | 2020-08-10 | 2.02 Results of Operations and Financial Condition; 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing | 2.02 On August 10, 2020, Exela Technologies, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended June 30, 2020. 3.01 As expected, on August 11, 2020 the Company received a delisting determination letter from the Nasdaq Stock Market Listing Qualifications Department due to the Company’s failure to regain compliance with the Nasdaq Capital Market's minimum $1.00 per share bid price requirement for the continued listing of its Common Stock on The Nasdaq Capital Market as set forth in Nasdaq Listing Rule 5550(a)(2) within the time provided by Nasdaq to regain compliance under its rules. | tm2027158-1_8k.htm |
| 2020-07-01 | 8-K | 2020-06-30 | 2.02 Results of Operations and Financial Condition | 2.02 On June 30, 2020, Exela Technologies, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended March 31, 2020. | tm2023709-1_8k.htm |
| 2020-06-09 | 8-K | 2020-06-09 | 2.02 Results of Operations and Financial Condition | 2.02 On June 9, 2020, Exela Technologies, Inc. (the “Company”) issued a press release announcing its financial results for the fourth quarter and full year ended December 31, 2019. | tm2020760d2_8k.htm |
| 2020-05-22 | 8-K | 2020-05-21 | 1.01 Entry into a Material Definitive Agreement | 1.01 On May 21, 2020, Exela Technologies, Inc. (the “Company”) and Exela Receivables 1, LLC entered into an amendment to its Loan and Security Agreement, dated as of January 10, 2020 (as amended, the “A/R Facility”), with TPG Specialty Lending, Inc., as administrative agent, and the lenders party thereto (the “Sixth A/R Facility Amendment”) consistent with the terms previously reported in the Company's Current Report on Form 8-K filed on May 21, 2020. | tm2020760d1_8k.htm |
| 2020-05-21 | 8-K | 2020-05-15 | 1.01 Entry into a Material Definitive Agreement; 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | 1.01 As further described below, on May 18, 2020, Exela Technologies, Inc. (the “Company”) entered into an amendment to its Credit Agreement that, among other things, extends the time for the delivery of (i) its audited financial statements for the year ended December 31, 2019 to June 15, 2020 and (ii) its financial statements for the quarter ended March 31, 2020 to ten business days after delivery of such audited annual financial statements, and waives all existing defaults. 5.02 Chief Financial Officer Transition On May 15, 2020, the Company appointed of Shrikant Sortur as its new Chief Financial Officer, to succeed James Reynolds, who is stepping down as an executive, officer and employee of the Company and its subsidiaries, effective as of May 15, 2020. | tm2019944d1_8k.htm |
| 2020-05-15 | 8-K | 2020-05-11 | 1.01 Entry into a Material Definitive Agreement; 8.01 Other Events | 1.01 On May 11, 2020, Exela Technologies, Inc. (the “Company”), Exela Receivables 1, LLC and Exela Receivables Holdco, LLC entered into a Forbearance Agreement relating to its Loan and Security Agreement, dated as of January 10, 2020 (as amended, the “A/R Facility”), with TPG Specialty Lending, Inc., as administrative agent, and the lenders party thereto (the “Forbearance Agreement”), pursuant to which the administrative agent and each lender have agreed to forbear from exercising their respective rights and remedies under the A/R Facility resulting from the Company's failure to timely deliver audited financial statements for its fiscal year ended December 31, 2019 by the deadline specified in the A/R. Facility. 8.01 As previously reported, on April 23, 2020, the Company received a notice (the “Notice”) from the Staff of the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it was not in compliance with Nasdaq Listing Rule 5550(b)(2) (the “Rule”) because it had failed to maintain a minimum of $35 million in Market Value of Listed Securities (“MVLS”). | tm2019756d1_8k.htm |
| 2020-04-29 | 8-K | 2020-04-23 | 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing | 3.01 On April 23, 2020, Exela Technologies, Inc. (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 it is not in compliance with Nasdaq Listing Rule 5550(b)(2) (the “Rule”) because, for the last 30 consecutive business days, the Company’s Market Value of Listed Securities (“MVLS”) was below the minimum requirement of $35 million. | tm2018089-1_8k.htm |
| 2020-04-20 | 8-K | 2020-04-14 | 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers; 8.01 Other Events | 5.02 On April 14, 2020, the Board of Directors (the “Board”) of Exela Technologies, Inc. (the “Company”) elected Marc A. Beilinson and William L. Transier (the “New Directors”) to fill the existing Class B and Class C directorship vacancies on the Board to serve until the 2022 and 2020 Annual Meeting of Stockholders of the Company, respectively, where each of them is expected to stand for election for a three-year term. 8.01 As previously reported in the Form 8-K, the Company and Exela Receivables 1, LLC entered into an amendment on March 30, 2020 to its Loan and Security Agreement, dated as of January 10, 2020 (as amended, the “A/R Facility”), with TPG Specialty Lending, Inc., as administrative agent, and the lenders party thereto, to extend the time for delivery of the Company's audited financial statements for its fiscal year ended December 31, 2019 to April 9, 2020 and eliminated the five-day cure period with respect to any breach thereof. | tm2015612-1_8k.htm |
| 2020-04-03 | 8-K/A | 2020-03-31 | 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing; 8.01 Other Events | 3.01 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. 8.01 In December 2019, a novel strain of coronavirus was reported to have surfaced in Wuhan, China, which has and is continuing to spread throughout other parts of the world, including the United States. | tm2013964-2_8k.htm |
| 2020-03-31 | 8-K | 2020-03-31 | 8.01 Other Events | 8.01 Due to the outbreak of coronavirus disease 2019 (COVID-19), Exela Technologies, Inc. (the “Company”) is filing this current report on Form 8-K to avail itself of an extension to file its Annual Report on Form 10-K for the period ended December 31, 2019, originally due on March 16, 2020 and as extended to March 31, 2020 pursuant to Rule 12b-25, relying on an order issued by the Securities and Exchange Commission (the “SEC”) on March 25, 2020 pursuant to Section 36 of the Securities Exchange Act of 1934, as amended (Release No. 34-88465) regarding exemptions granted to certain public companies. | tm2013964d1_8k.htm |
| 2020-03-18 | 8-K | 2020-03-17 | 2.02 Results of Operations and Financial Condition | 2.02 On March 17, 2020, Exela Technologies, Inc. (the “Company” or “Exela”) issued a press release regarding the divestment of its tax consulting group, SourceHOV Tax, LLC. | tm2012800-3_8k.htm |
| 2020-03-17 | 8-K | 2020-03-11 | 1.01 Entry into a Material Definitive Agreement; 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review; 8.01 Other Events | 1.01 Entry into a Material Definitive Agreement. 4.02 As previously reported, on September 21, 2017, former stockholders of the Company’s subsidiary, SourceHOV Holdings, Inc. (“SourceHOV”), who allege combined ownership of 10,304 shares of SourceHOV common stock, filed a petition for appraisal pursuant to 8 Del. 8.01 On March 16, 2020, TPG Specialty Lending, Inc., as administrative agent (the “A/R Administrative Agent”), and the lenders (the “A/R Lenders”) under the Loan and Security Agreement, dated as of January 10, 2020 (the “A/R Facility”), entered into a limited waiver of certain matters arising out of the Initial Servicer's Liquidity (as defined in the A/R Facility) failing to exceed $60,000,000, referred to as an Initial Servicer Default, as to which the A/R Administrative Agent had notified the Company on February 18, 2020. | tm2012800-1_8k.htm |
| 2020-01-15 | 8-K | 2020-01-10 | 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant | 1.01 Entry into a Material Definitive Agreement. 2.03 The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference. | tm203233d1_8k.htm |