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8-K: Exela Announces Plans To Divest Bpa Business

8-K: Exela Announces Plans To Divest Bpa Business

Exela宣佈計劃剝離BPA業務
美股SEC公告 ·  2024/07/01 20:34

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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,業務流程自動化領導者exela technologies宣佈計劃探索分拆其業務流程自動化(BPA)業務。擬議中的分拆將使exela股東收到一個新的控股公司的成比例股份,該控股公司將擁有BPA業務,同時仍然保留他們對exela的所有權,包括其在XBP歐洲控股有限公司和北美現場服務業務的大股東地位,但不包括BPA業務。股份分配須遵守慣例條件、董事會批准和BPA業務提交的註冊聲明的有效性。exela還正在評估根據內部稅收法規第355(a)條的分拆稅務影響。交易的法律顧問由Loeb & Loeb LLP提供。雖然公司已經分享了它的意圖,但不能確定分拆會按照描述或完全完成。
2024年7月1日,業務流程自動化領導者exela technologies宣佈計劃探索分拆其業務流程自動化(BPA)業務。擬議中的分拆將使exela股東收到一個新的控股公司的成比例股份,該控股公司將擁有BPA業務,同時仍然保留他們對exela的所有權,包括其在XBP歐洲控股有限公司和北美現場服務業務的大股東地位,但不包括BPA業務。股份分配須遵守慣例條件、董事會批准和BPA業務提交的註冊聲明的有效性。exela還正在評估根據內部稅收法規第355(a)條的分拆稅務影響。交易的法律顧問由Loeb & Loeb LLP提供。雖然公司已經分享了它的意圖,但不能確定分拆會按照描述或完全完成。
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