Xerox Registers 3.87M Shares for Resale From $174M Note Exchange
XRX sits 39% above its 52-week low of $1.19 on elevated volume (10× avg).
Summary
Xerox registered 3,872,062 shares for resale by holders exchanging 5.500% 2028 notes into new 10.250% secured notes plus stock. No proceeds to Xerox; the shares equal roughly 2.9% of the 135.2M outstanding.
Key Events · Financing and Capital Events · XRX
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Resale Registration for Exchange Shares
Xerox registered 3,872,062 shares of common stock for resale by holders exchanging 5.500% 2028 notes under the October 29, 2026 Exchange Support Agreement.
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Equity Leg Sized at ~$9.8M
The fee table values the registered shares at $9,835,037.48, or $2.54 per share, against 135,186,573 shares outstanding — about 2.9% of the base.
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No Proceeds to Xerox
Xerox receives none of the sale proceeds and pays all registration costs, estimated at $270,856 including $125,000 legal and $130,000 accounting fees.
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Exchange Closes November 13, 2026
Exchange Agreements with the consenting holders are expected to be entered into on November 13, 2026, swapping 2028 notes for 10.250% first-lien secured notes due 2030, accrued interest cash and stock.
Analysis · XRX · Technology
This S-3 is the resale registration Xerox promised the bondholders swapping 5.500% 2028 notes into new 10.250% secured notes plus stock. For the first time it puts a hard number on the equity leg: 3,872,062 shares, worth about $9.8M at the $2.54 reference price, against 135,186,573 shares outstanding — roughly 2.9% of the base. Xerox gets no cash from any of these sales; the selling holders do. The real story is the cost of the balance-sheet fix: the coupon on the new secured notes more than doubles to 10.250%, and the company is paying equity on top of that to buy lender consent, one day after reporting a $1,015 million quarterly loss and cutting free cash flow guidance.
How filings like this one have moved
In the 30 days to Oct 30, 2026, 30.7% of the 1581 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.02%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, XRX was trading at $1.65 on NASDAQ in the Technology sector, with a market capitalization of approximately $218.6M. The 52-week trading range was $1.19 to $3.78. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.