XBP Europe Holdings Stock Rises 18% On Agreement To Acquire Exela Technologies

(RTTNews) - XBP Europe Holdings, Inc. (XBP) is up 18.13 percent, gaining $0.26 to trade at $1.31 during Tuesday's trading after announcing it has entered into an exclusive, non-binding letter of intent to acquire Exela Technologies BPA, LLC.

The stock opened at $1.18 and has traded between $1.03 and $1.73 today. Volume has surged to 2.92 million shares, significantly above the average of 84,903. The 52-week range is $0.79 to $4.33.

The acquisition, if completed, would expand XBP Europe's revenue to over $1 billion from $145 million on a pro forma basis for the twelve months ending September 30, 2024, pending a corporate reorganization of BPA.