Subsequent Events	9 Months Ended
Sep. 30, 2022
Subsequent Events.
Subsequent Events	14. Subsequent Events The Company has evaluated all events that occurred after the balance sheet date through the date when these condensed consolidated financial statements were issued to determine if they must be reported. Common Stock At-The-Market Sales Program During October 1, 2022 through November 14, 2022, we issued an aggregate of 42,150,362 shares of Common Stock under the Common ATM Program–4 at a weighted average price of $0.281 per share, generating gross proceeds of $11.8 million and net proceeds of $11.4 million, after offering expenses. Repayments on BRCC Facility During October 1, 2022 through November 14, 2022, we repaid $5.3 million of outstanding principal amount under the BRCC Term Loan. Divestiture On October 10, 2022, we announced the execution of a definitive merger agreement to merge our European business with CF Acquisition Corp. VIII (“CFFE”), a special purpose acquisition company, to form a new publicly-traded company which will be called XBP Europe Holdings, Inc. Exela will indirectly own a majority of the outstanding capital stock of XBP Europe Holdings, Inc. The Board of the Company has approved the transaction. The transaction is subject to customary closing conditions, several of which are outside the control of the parties, and there can be no assurance as to whether or when a closing will occur.

Subsequent Events

9 Months Ended

Sep. 30, 2022

14. Subsequent Events

The Company has evaluated all events that occurred after the balance sheet date through the date when these condensed consolidated financial statements were issued to determine if they must be reported.

Common Stock At-The-Market Sales Program

During October 1, 2022 through November 14, 2022, we issued an aggregate of 42,150,362 shares of Common Stock under the Common ATM Program–4 at a weighted average price of $0.281 per share, generating gross proceeds of $11.8 million and net proceeds of $11.4 million, after offering expenses.

Repayments on BRCC Facility

During October 1, 2022 through November 14, 2022, we repaid $5.3 million of outstanding principal amount under the BRCC Term Loan.

Divestiture

On October 10, 2022, we announced the execution of a definitive merger agreement to merge our European business with CF Acquisition Corp. VIII (“CFFE”), a special purpose acquisition company, to form a new publicly-traded company which will be called XBP Europe Holdings, Inc. Exela will indirectly own a majority of the outstanding capital stock of XBP Europe Holdings, Inc. The Board of the Company has approved the transaction. The transaction is subject to customary closing conditions, several of which are outside the control of the parties, and there can be no assurance as to whether or when a closing will occur.