Business: Exela Technologies, Inc. Series B Cumulative Convertible Preferred Stock, liquidation preference $25.00 per share, redeemable at the issuer's option on or after (__) at $25.00 per share plus accrued and unpaid dividends, and with no stated maturity. <p> Cumulative distributions of 6.00% per annum ($1.50 per annum or $0.375 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date fixed by the board, not more than 60 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). <p> Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. <p> The preferred shares are convertible any time at the holder's option into 20 common shares of Exela Technologies, Inc.(NCM:XELA), an initial conversion price of $1.25 per common share. If the price of the common stock equals or exceeds Mandatory Conversion Price for 5 consecutive trading days, the company may, at their option, cause the preferred shares to be converted into common shares at the then prevailing conversion price. <p> In regard to the payment of distributions and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.