---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-118697"
form_type: "8-K"
ticker: null
cik: "0001620179"
company_name: "Exela Technologies, Inc."
filed_at: "2022-11-14T23:59:59+00:00"
generated_at: "2026-06-21T20:23:28.114472+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Exela Technologies restates FY2021 financials after going concern disclosure error

## Summary
- Audit committee on Nov 9, 2022 determined FY2021 audited financials should no longer be relied upon.
- Error: contingent liability from true-up guaranties under March 7, 2022 Revolving Loan Exchange not considered in going concern evaluation.
- Restatement reclassifies certain long-term debt from noncurrent to current on Dec 31, 2021 balance sheet.
- No impact on retained earnings, equity, or net assets; KPMG amended audit report includes going concern explanatory paragraph.

## SEC filing metadata
- accession: 0001104659-22-118697
- form_type: 8-K
- cik: 0001620179
- company_name: Exela Technologies, Inc.
- filed_at: 2022-11-14T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1620179/000110465922118697/0001104659-22-118697-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1620179/000110465922118697/tm2230425d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-118697
- JSON: https://secwatch.observer/filing/0001104659-22-118697.json
- Plain text: https://secwatch.observer/filing/0001104659-22-118697.txt

## Key facts
- Auditor Changes
  Exela Technologies, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: KPMG LLP
  source text: on November 9, 2022, the audit committee of the Company’s board of directors concluded, after discussion with the Company’s management, that the audited financial statements included within the Original 10-K should be restated and should no longer be relied upon.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1620179/000110465922118697/0001104659-22-118697-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.