Exela slides after 1-for-20 reverse stock split

Exela Technologies

26/07/2022 13:02

** Exela Technologies's shares  XELO.O  plunge 37.8% at
$1.81 before the bell
    ** The business process automation firm says its board has
approved a 1-for-20 reverse stock split of the co's common stock
 urn:newsml:reuters.com:*:nGNX304tm9
    ** Says split is aimed at "improving the marketability and
liquidity of its common stock" and complying with the Nasdaq
listing requirements 
    ** There will be about 64.8 million shares of common stock
outstanding after the stock split 
    

 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))