---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-031828"
form_type: "8-K"
ticker: null
cik: "0001620179"
company_name: "Exela Technologies, Inc."
filed_at: "2023-03-13T23:59:59+00:00"
generated_at: "2026-06-18T04:28:41.401043+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Exela creates special voting stock to secure reverse split approval for Nasdaq compliance

## Summary
- Created 1M Special Voting Stock shares (75,000 votes each) issued to GP-HGM LLC for $100.
- Special Voting Stock voted proportionally to common and tandem preferred on reverse split (1:100-1:200).
- Reverse split needed to meet Nasdaq $1.00 minimum bid price; delisting risk exists.
- Shares to be redeemed for $100 on first business day after vote conclusion.
- Series B and Tandem Preferred authorized shares reduced from 8.6M to 8.1M to accommodate.

## SEC filing metadata
- accession: 0001104659-23-031828
- form_type: 8-K
- cik: 0001620179
- company_name: Exela Technologies, Inc.
- filed_at: 2023-03-13T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1620179/000110465923031828/0001104659-23-031828-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1620179/000110465923031828/tm239068d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-031828
- JSON: https://secwatch.observer/filing/0001104659-23-031828.json
- Plain text: https://secwatch.observer/filing/0001104659-23-031828.txt

## Key facts
- Governance Changes
  Exela Technologies, Inc.: Stockholders will vote on a proposed amendment to the certificate of incorporation to effect a reverse stock split at a ratio between 1-for-100 and 1-for-200 (effective 2023-03-13).
  - Change: charter amendment
  - Effective: 2023-03-13
  source text: At the Special Meeting, stockholders will be asked to approve the adoption of an amendment to the Company’s certificate of incorporation (the “COI”) to effect a reverse split of its outstanding common stock at a ratio in the range of 1-for-100 to 1-for-200, to be determined at the discretion of the Company’s board of directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1620179/000110465923031828/0001104659-23-031828-index.htm
- Material Agreements
  Exela Technologies, Inc. entered into Voting Agreement with GP-HGM LLC (effective 2023-03-07).
  - Action: entry
  - Counterparty: GP-HGM LLC
  - Effective: 2023-03-07
  source text: On March 7, 2023, the Company entered into the Voting Agreement with GP-HGM LLC (the “Special Voting Holder”), providing that the Special Voting Holder purchased 1,000,000 shares of Special Voting Stock from the Company for an aggregate purchase price of $100
  evidence_url: https://www.sec.gov/Archives/edgar/data/1620179/000110465923031828/0001104659-23-031828-index.htm

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