Exela Technologies and Affiliates' Ownership in XBP Global Holdings

Exela Technologies, Inc., along with its affiliates XCV-STS, LLC and GP 3XCV LLC, and Par Chadha, have filed a Schedule 13D with the SEC, disclosing their ownership in XBP Global Holdings, Inc. The filing details the acquisition of shares and warrants in XBP Common Stock through restructuring transactions following the Chapter 11 bankruptcy cases of certain Exela subsidiaries. Exela, through its subsidiaries, beneficially owns 27.08% of XBP Common Stock, while Par Chadha, the Executive Chairman of Exela, beneficially owns 28.97% of XBP Common Stock, including shares held directly and indirectly through Exela. The filing also outlines the terms of the Registration Rights Agreement, Tax Funding Agreement, and the issuance of warrants in respect of XBP Warrant Shares. The restructuring transactions were part of a global settlement reached in the Chapter 11 cases, which involved the equitization or exchange of claims related to the 2026 Notes.