Business
OneSpaWorld Files Investor Presentation
Urges Shareholders Vote “FOR” Vital $75 Million Equity Financing At June 10, 2020 Annual Meeting Going Concern Risk If Equity Financing Is Not Approved
About this update from Onespaworld Holdings Limited
[{"type":"text","content":"\nUrges Shareholders Vote “FOR” Vital $75 Million Equity Financing At June 10, 2020 Annual Meeting\n\n\nGoing Concern Risk If Equity Financing Is Not Approved\n\n NASSAU, Bahamas--(BUSINESS WIRE)--\nOneSpaWorld Holdings Limited (NASDAQ: OSW), the pre-eminent global provider of health and wellness products and services on board cruise ships and in destination resorts around the world, today filed an investor presentation regarding the previously announced $75 million equity financing to be voted on at the Company’s Annual Meeting of Shareholders on June 10.\n\n\nThe presentation highlights why securing the equity financing is in the best interest of OSW and its shareholders, including that the financing is required for OSW to fund its operations while its business is impaired due to the COVID-19 pandemic and to remain in compliance with its debt covenant as of June 30, 2020. Additionally, the presentation details the OSW Board’s thorough process to secure the best available financing option. Without OSW shareholder approval of this critical financing, there is substantial doubt about OSW’s ability to continue as a going concern.\n\n\nThe presentation was filed with the SEC and is available in the Investor Relations section of OneSpaWorld’s website at https://onespaworld.com/investor-relations/.\n\n\nTHE BOARD OF DIRECTORS URGES ALL SHAREHOLDERS TO VOTE “FOR”\nTHE PRIVATE PLACEMENT PROPOSALS TO PROTECT THEIR INVESTMENT\n\n\nYOUR VOTE IS CRITICAL. We urge you to vote “FOR” the private placement proposals (Proposals 3 and 4) at our upcoming Annual Meeting on June 10, 2020. You will be able to vote by mail or online.\n\n\n\n\n \n\n\nM O R R O W\n\n\nS O D A L I\n\n\n \n\n\n509 Madison Avenue\n\n\nSuite 1206\n\n\nNew York, NY 10022\n\n\n \n\n\nStockholders Call Toll Free: (800) 662-5200\n\n\nE-mail: [email protected]\n\n\n \n\n\n\n\n\nAbout OneSpaWorld\n\n\nHeadquartered in Nassau, Bahamas, OneSpaWorld is one of the largest health and wellness services companies in the world. OneSpaWorld’s distinguished spas offer guests a comprehensive suite of premium health, wellness, fitness and beauty services, treatments, and products currently onboard 175 cruise ships and at 68 destination resorts around the world. OneSpaWorld holds the leading market position within the fast-growing international leisure market and has been bu...