XELA Offer: Option 2?
$Exela Technologies, Inc.(XELA)$
Anyone get XELA?
Exela Technologies, Inc has offered to exchange up to 100,000,000 of its outstanding shares of common stock for preferred stock.
The terms of the offer are as follows (subject to proration):
Option 1: Take no action (Default)
Option 2: Tender shares for preferred stock: For each 20 shs of common stock tendered, holders will receive 1 share of 6.00% Series B1 Cumulative Convertible Perpetual Preferred Stock having a liquidation preference of $25.00 per share of Series B Preferred stock (an effective price of 1.25 USD per Common Stock)
Odd lot priority: No
Minimum Tender Requirement: 20 shares and in multiples of 20 thereafter
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$Exela Technologies, Inc.(XELA)$
IRVING,Texas,2022年5月02日（环球新闻）--Exela Technologies,Inc.（“Exela”或“公司”）（纳斯达克代码：XELA）今天宣布，它已经修改了先前宣布的普通股和B系列优先股的股票交换要约。在修改后的要约（“要约”）中，股东现在可以以20股增量的普通股换取一股现有的公开交易的B系列优先股（纳斯达克：XELAP)，并享有25美元的清算优先权，在下文描述的串联股票股利之后，每股将有20票。鉴于要约的变动，本公司已决定终止要约，以B系列优先股换取新系列优先股。因此，B系列优先股的现有持有人无需采取任何行动。
is option 2 a good choice?
had. but got out
👍