Exela Technologies urges stockholders to vote ‘FOR’ reverse stock split

Exela Technologies encourages stockholders to vote "For" the amendment to its Certificate of Incorporation to effect a reverse stock split, as further described in the Company’s proxy statement filed on March 21, 2023 with the Securities and Exchange Commission. With the special meeting almost a week away, Exela stockholders are urged to vote online or by telephone to ensure their shares are represented at the special meeting. "Our board strongly encourages that stockholders approve the amendment to facilitate the continued listing of our equity securities on The Nasdaq Capital Market. It is our understanding that the current market price of our Common Stock may affect its acceptability to certain institutional investors, professional investors and other members of the investing public. It is also our understanding that many brokerage houses and institutional investors have internal policies and practices that either prohibit them from investing in low-priced stocks or tend to discourage individual brokers from recommending low-priced stocks to their customers," the company said.