The meme-stock phenomenon of 2021 gave Exela Applied sciences Inc. a much-needed liquidity enhance, but it surely might not be sufficient to avoid wasting the corporate from a restructuring.
Exela took benefit of a head-scratching inventory rally to boost greater than $400 million of fairness and correctly used that cash to shrink its debt load, Phil Brendel of Bloomberg Intelligence wrote in a word Wednesday. However the Irving, Texas-based enterprise providers firm continues to be displaying ample indicators of economic misery and will in the end need to restructure that debt load both inside or outdoors of chapter court docket, he stated.
“Contemplating the impression a …
