04:12 AM EST, 01/08/2025 (MT Newswires) -- Exela Technologies ( XELA ) said late Tuesday its board has approved a process to voluntarily delist its securities from the Nasdaq Stock Market.

The company said the decision is based on several factors, including a prior Nasdaq suspension and an expected reduction in operating expenses.

Following the Nasdaq suspension, the company said its common and series B preferred stock has been trading on the OTC Markets system.