SOLIC Advises Ad Hoc Bondholder Group On Successful Exela Technologies Transaction

Chicago, IL – August 7, 2025 – SOLIC Capital Advisors served as financial advisor to the ad hoc group of bondholders in the successful restructuring and sale of Exela Technologies BPA, LLC  (“Exela BPA”), a leading provider of business process automation solutions. On July 29, 2025, Exela BPA completed its emergence  from Chapter 11 bankruptcy and was acquired by XBP Europe Holdings, Inc. (“XBP Europe”) (Nasdaq: XBP), a pan-European integrator of bills, payments, and related solutions and service.

The transaction, supported by the Exela BPA ’s confirmed Plan of Reorganization, positions the Exela BPA business for long-term growth and stability under new ownership and enhanced governance.  The combined company, called XBP Global Holdings, Inc., will have over $900 million of revenue,  with approximately 11,000 employees across 19 countries, serving  over 2,500 customers.

SOLIC advised the ad hoc group of Exela BPA  bondholders, which collectively held a majority of the $1.3B Exela BPA bonds outstanding,  on the conversion of Exela BPA bonds into XBP common stock, as well as the provision of $80 million in debtor-in-possession new money financing to fund Exela BPA’s Chapter 11 Bankruptcy.

SOLIC is proud to have played a key role in this complex and collaborative effort, guiding stakeholders to a successful outcome. The engagement was led by Reid Snellenbarger and Greg Hagood.