Exela Technologies (XELA) Cancels Vote on Reverse Split

Exela Technologies, Inc. (NASDAQ: XELA) today announced that it will not proceed with the vote scheduled for May 3, 2022 seeking approval to effect a reverse stock split. The Special Meeting of Stockholders scheduled for that date has been canceled.

The Company believes continued listing on Nasdaq is important for our shareholders, employees and customers. Accordingly, Exela may revisit the need to seek a reverse stock split based on the requirement to regain compliance with the listing standard by August 8, 2022.

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