Exela Technologies Enters New $150M ATM Equity Program, Completes Previous $100M Program

Exela Technologies Inc XELA entered into an additional $150 million at-the-market (ATM) equity program.
The proceeds will allow the purchase or retirement of debt, general corporate purposes, including funding of its development programs, commercial planning and sales and marketing expenses, general and administrative expenses, acquisition or licensing of additional product candidates or businesses or working capital.
It completed its $100 million at-the-market equity program announced on May 27, 2021.
Exela held $22 million in cash and equivalents as of Mar. 31, 2021. Long-term debt stood at $1.5 billion.
XELA share prices gained 77.3% in the last week.
Price action: XELA shares traded higher by 2.99% at $2.41 in the market session on the last check Wednesday.