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8-K: Exela Announces Plans To Divest Bpa Business

8-K: Exela Announces Plans To Divest Bpa Business

8-K:Exela宣布计划剥离BPA业务
美股SEC公告 ·  2024/07/01 05:34

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Exela Technologies announced on July 1, 2024, that its Board of Directors has authorized the exploration of spinning off its wholly-owned subsidiary, Exela Technologies BPA, LLC, to maximize shareholder value. The proposed spinoff would distribute shares of a newly formed holding company owning the BPA business to existing stockholders on a pro-rata basis, expected in Q3 or Q4 2024.Post-spinoff, shareholders would retain their current Exela ownership, including its over 70% stake in Nasdaq-listed XBP Europe Holdings and North American onsite services business, while receiving additional shares in the separated BPA entity. The transaction is being evaluated for tax-free distribution status under Section 355(a) of the Internal Revenue Code.The completion of the spinoff remains subject to final Board approval, registration statement effectiveness, and other customary conditions. Loeb & Loeb LLP is serving as legal counsel for the transaction. No shareholder action is required for the distribution, though further details will be provided in upcoming SEC filings.
Exela Technologies announced on July 1, 2024, that its Board of Directors has authorized the exploration of spinning off its wholly-owned subsidiary, Exela Technologies BPA, LLC, to maximize shareholder value. The proposed spinoff would distribute shares of a newly formed holding company owning the BPA business to existing stockholders on a pro-rata basis, expected in Q3 or Q4 2024.Post-spinoff, shareholders would retain their current Exela ownership, including its over 70% stake in Nasdaq-listed XBP Europe Holdings and North American onsite services business, while receiving additional shares in the separated BPA entity. The transaction is being evaluated for tax-free distribution status under Section 355(a) of the Internal Revenue Code.The completion of the spinoff remains subject to final Board approval, registration statement effectiveness, and other customary conditions. Loeb & Loeb LLP is serving as legal counsel for the transaction. No shareholder action is required for the distribution, though further details will be provided in upcoming SEC filings.
2024年7月1日,业务流程自动化领军公司Exela Technologies宣布计划研究业务流程自动化(BPA)业务的分拆。拟议的分拆将使Exela股东获得新控股公司的按比例份额,该公司将拥有BPA业务,同时仍保留对Exela的所有权益,包括对XBP欧洲控股公司和北美现场服务业务的大部分持股,但BPA业务除外。股份分配受常规条件、董事会批准和BPA业务提出的一份注册声明的有效性的限制。Exela 还在考虑依据《内部税收法典》第355(a)条的规定对分拆产生的税收影响。交易的法律顾问由Loeb & Loeb LLP提供。虽然公司已经分享了其意图,但是否会按照描述或完全完成分拆并不确定。
2024年7月1日,业务流程自动化领军公司Exela Technologies宣布计划研究业务流程自动化(BPA)业务的分拆。拟议的分拆将使Exela股东获得新控股公司的按比例份额,该公司将拥有BPA业务,同时仍保留对Exela的所有权益,包括对XBP欧洲控股公司和北美现场服务业务的大部分持股,但BPA业务除外。股份分配受常规条件、董事会批准和BPA业务提出的一份注册声明的有效性的限制。Exela 还在考虑依据《内部税收法典》第355(a)条的规定对分拆产生的税收影响。交易的法律顾问由Loeb & Loeb LLP提供。虽然公司已经分享了其意图,但是否会按照描述或完全完成分拆并不确定。
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