$Exela Technologies (XELA.US)$

Old Stick : From all the input shared from few recent posting, plus my own reading, it seems like XELA do have upside of things :
Option 1 : To those who convert to Senior Note, this is like getting a "share buy back" at a premium price equivalent to USD 1.25 per share, and still can potentially earn 6% interest per year as right to the Senior Note. This is a reflective of XELA's confidence to continue to pay "dividend" long term.
Option 2 : After some portion of common stock take up Option 1, the total common share number will decrease and making it higher chance of reaching > USD 1 share price point, which will get rid of the delist warning by SEC.
IMHO, either way you choose, this is a very smart manouever by XELA.

Leefh Old Stick : It’s good strategy for company to exercise share buy back. those who bought <USD1.00 like between 0.50-.70, it is good chance to lock-in the gains for 7 years which could valued approximately USD1.80 per share by then after factoring in 6% interest earned.