CUSIP No. 30162V805

 

 

SCHEDULE 13D

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

 

(Amendment No. 1)*

 

Exela Technologies, Inc.

(Name of Issuer)

 

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

 

30162V805

(CUSIP Number)

 

The Rifles Trust

Ajit Singh Chadha

8550 West Desert Inn Road, Suite 102-452

Las Vegas, Nevada 89117

(310) 496-3248

 

With a copy to:

W. Raymond Felton

Greenbaum, Rowe, Smith & Davis LLP

P.O. Box 5600

Woodbridge, New Jersey 07095

732-549-5600

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

December 2, 2024

(Date of Event Which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this statement on Schedule 13D (this “Schedule 13D”) and is filing this schedule 13D because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. ¨

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (the “Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

 

 

CUSIP No. 30162V805

 

SCHEDULE 13D

 

1Name of Reporting Persons
 I.R.S. Identification Nos. of Above Persons (Entities Only) The Rifles Trust

 

2Check the Appropriate Box if a Member of a Group

 

(a)¨

 

(b)¨

 

3SEC Use Only

 

4Source of Funds
 OO
  
5Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)     ¨

 

6

Citizenship or Place of

Organization California

 

  7 Sole Voting Power
    3,100,388
     
Number of    
Shares 8 Shared Voting Power
Beneficially   0
Owned by    
Each 9 Sole Dispositive Power
Reporting   3,100,388
Person With    
     
  10 Shared Dispositive Power
    0

  

11Aggregate Amount Beneficially Owned by Each Reporting Person
 3,100,388
  
12Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ¨

  

13Percent of Class Represented by Amount in Row (11)
 11.17% (1)

 

14Type of Reporting Person
 OO

 

(1)            Calculations are based upon 6,365,363 shares of Common Stock of the Issuer outstanding, as of November 13, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q for the period ended September 30, 2024, plus 21,385,694 shares of Common Stock issued in connection with an exchange for Series A Preferred Stock as described under Subsequent Events is such Form 10-Q plus 50 shares of Common Stock issuable upon conversion of Preferred Stock of the Issuer held by Reporting Person. The amount shown includes 4 shares of Common Stock issuable upon conversion of 24,947 shares of the Series A Preferred Stock and 46 shares of Common Stock issuable upon conversion of 8,100 shares of the Series B Preferred Stock held by the Reporting Person as of November 21, 2024.

 

 

 

 

CUSIP No. 30162V805

 

SCHEDULE 13D

 

1Name of Reporting Persons
  
 I.R.S. Identification Nos. of Above Persons (Entities Only) Ajit Singh Chadha

 

2Check the Appropriate Box if a Member of a Group

 

(a)¨

 

(b)¨

 

3SEC Use Only

 

4Source of Funds
 OO; SC
  
5Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)    ¨

 

6

Citizenship or Place of Organization

United States of America

 

  7 Sole Voting Power
    3,100,388
     
Number of    
Shares 8 Shared Voting Power
Beneficially   0
Owned by    
Each 9 Sole Dispositive Power
Reporting   3,100,388
Person With    
     
  10 Shared Dispositive Power
    0

  

11Aggregate Amount Beneficially Owned by Each Reporting
 Person 3,100,388
  
12Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ¨

  

13Percent of Class Represented by Amount in Row (11)
 11.17% (1)

 

14Type of Reporting Person
 IN

 

(1)            Calculations are based upon 6,365,363 shares of Common Stock of the Issuer outstanding, as of November 13, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q for the period ended September 30, 2024, plus 21,385,694 shares of Common Stock issued in connection with an exchange for Series A Preferred Stock as described under Subsequent Events is such Form 10-Q plus 50 shares of Common Stock issuable upon conversion of Preferred Stock of the Issuer held by Reporting Person. The amount shown includes 4 shares of Common Stock issuable upon conversion of 24,947 shares of the Series A Preferred Stock and 46 shares of Common Stock issuable upon conversion of 8,100 shares of the Series B Preferred Stock held by the Reporting Person as of November 21, 2024.

 

 

 

 

Item 7. Material to be filed as Exhibits.

 

Attached to this Amendment as Schedule 1 is a list of all transactions in the Issuer’s common stock in the sixty (60) days prior to the date of this filing.

 

 

 

 

CUSIP No. 30162V805

 

SIGNATURES

 

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this Schedule 13-D is true, complete and correct.

 

Dated: December 3, 2024

 

  The Rifles Trust
   
   
  By: /s/ Ajit Singh Chadha
    Ajit Singh Chadha, Trustee
   
   
  /s/ Ajit Singh Chadha
    Ajit Singh Chadha

 

 

 

 

Schedule I

 

This Schedule sets forth information with respect to each purchase and sale of shares of common stock that was effectuated by a Reporting Person in the last 60 days since the date of the event which requires filing of this Statement.

 

On November 21, 2024, The Rifles Trust exchanged 30,491 shares of the Issuer’s Series A Preferred Stock to 427,530 shares of common stock. There was no purchase price or payment made in connection with this exchange.

 

On November 21, 2024, The Rifles Trust received a distribution of 1,979,025 shares from HOF 2, LLC.

 

On November 21, 2024, The Rifles Trust received a distribution of 494,514 shares from Adesi 234, LLC.

 

On November 21, 2024, The Rifles Trust received a distribution of 199,270 shares from HandsOn Global Management, LLC.

 

There was no purchase price or payment made in connection with any of the foregoing transactions.

 

 

 


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