Current Report Filing (8-k)
April 29 2020 - 5:29PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 23, 2020
EXELA
TECHNOLOGIES, INC.
(Exact name of registrant as specified in
its charter)
Delaware
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001-36788
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47-1347291
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(State or other jurisdiction of
incorporation or organization)
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(Commission File Number)
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(I.R.S. Employer
Identification Number)
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2701 E. Grauwyler Rd.
Irving, TX
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75061
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(Address of principal executive offices)
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(Zip Code)
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Company’s telephone number, including
area code: (844) 935-2832
Securities registered pursuant to Section 12(b) of
the Act:
Title of Each Class
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Trading Symbol
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Name of Each Exchange on Which Registered
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Common Stock, Par Value $0.0001 per share
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XELA
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The Nasdaq Stock Market LLC
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Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act
of 1934.
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Emerging growth company
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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Item 3.01 Notice of Failure to Satisfy a Continued Listing
Rule or Standard; Transfer of Listing.
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. In the Notice, Nasdaq indicated
that the Company has 180 calendar days from the date of the Notice (or until October 20, 2020) to regain compliance with the Rule.
The Company will regain compliance if at any time before October 20, 2020, the Company’s MVLS closes at or above $35 million
for a minimum of ten consecutive business days. In the event the Company does not regain compliance with the Rule prior to the
expiration of the compliance period, it will receive written notification that its securities are subject to delisting, in which
case the Company will have the right to appeal the delisting determination to a Hearings Panel of the Nasdaq. The Notice has no
immediate effect on the listing of Company’s common stock on the Nasdaq Capital Market.
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Dated: April 29, 2020
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EXELA TECHNOLOGIES, INC.
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By:
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/s/ Erik L. Mengwall
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Erik L. Mengwall
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Secretary
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Exela Technologies (PK) (USOTC:XELAW)
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