DocuData Solutions, L.C., operating as Exela Technologies, is a global business process automation and information management company providing mission-critical services including payment technologies, healthcare revenue cycle management processing approximately 900,000 claims daily, and digital transformation solutions to over 1,550 customers, including more than 60% of Fortune 100 companies. Headquartered in Irving, Texas with approximately 11,000 employees worldwide, the formerly NASDAQ-listed company (XELA) was delisted in late 2024 and filed for Chapter 11 protection on March 3, 2025 in the Southern District of Texas (Case No. 25-90023). The filing followed an excessive prepetition debt burden, competitive industry pressures, a critical network security incident in June 2022, COVID-19 disruptions, and an inability to invest in technology due to debt service requirements. At filing, the company carried approximately $1.315 billion in funded debt, primarily consisting of $1.252 billion in April 2026 Senior Secured Notes and $38.5 million in Blue Torch term loans, along with over $47.6 million in tax liabilities and approximately $41 million in trade debt. The Debtors obtained a $185 million DIP facility from the Ad Hoc April 2026 Noteholder Group, including $80 million in new money and a $105 million roll-up. The prearranged Plan of Reorganization was confirmed on June 23, 2025 and became effective July 29, 2025, eliminating approximately $1 billion in debt, converting the April 2026 Notes to 100% of reorganized equity, and leaving the company with approximately $367 million in post-emergence funded debt.
