Exela Technologies, Inc. (NASDAQ: XELA) share soared 40.26% with a heavy volume of 8.29 million during the pre-market trading session of Friday. Exela Technologies has disclosed that it has secured a $145 million term loan facility. The news of the loan facility has excited the stocks of the company as it highlighted the positive sentiments of the investors.
XELA has signed a five-year loan facility contract with Angelo Gordon which is a global investment company. As per the new agreement, the initial funding of nearly $92 million has been provided to the company and after fulfilling certain conditions the firm will be able to receive the remaining funding of nearly $53 million.
Shares of Exela Technologies, Inc. (NASDAQ: XELA) traded up 41.09% as it gained +0.149 during the pre-market trading session of Friday. The firm has recorded a trading volume of 9.25 million during the pre-market trading session of Friday as compared to the average volume of 1.99 million.
In the past 52-weeks of trading, this company’s share fluctuated between the low range of $0.09 and a high range of $0.87. Its share surged 321.98% and plunged at -58.29% during the 52-weeks low and high, respectively. Turning our focus on its liquidity, it has a current ratio of 0.80 and a quick ratio of 0.70. Exela Technologies’ market capitalization has remained high, hitting $54.04 million at the time of writing.
It has been disclosed that the firm will use the profits from the funding to withdraw all debt outstanding under XELA’s accounts receivables securitization facility of nearly $83 million. XELA has earlier disclosed the strategic initiatives to enhance the liquidity to nearly $150 million. The liquidity of the company will be more than $140 million accepting full funding under the new facility.