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OneSpaWorld Holdings Limited Announces Private Warrant Exchange
NASSAU, Bahamas--(BUSINESS WIRE)-- OneSpaWorld Holdings Limited, (NASDAQ: OSW), the pre-eminent global provider of health and wellness products and services
About this update from Onespaworld Holdings Limited
[{"type":"text","content":" 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, announced today that it has signed privately negotiated warrant exchange agreements with certain holders of its public warrants (the “Public Warrants”) to exchange the Public Warrants for the Company’s common shares.\n\nThe exchange ratio will be determined over a thirty trading day period using a volume-weighted average price measurement, and the exchange is expected to close on April 25, 2023, subject to customary closing conditions. For each Public Warrant exchanged, the Company will issue a number of common shares equal to the quotient of the warrant price of $1.912 divided by the common share price of $10.74 or an initial exchange ratio of 0.178, with the maximum exchange ratio at the completion of the 30-day VWAP period being no greater than 0.220.\n\nThe exchange will reduce the total number of outstanding Public Warrants by 61.4%, to 6,228,129 from 16,145,279.\n\nTD Cowen served as a financial advisor to the Company in connection with the exchange.\n\nThis communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy, any securities, nor shall there be any sale, issuance or transfer or securities in any jurisdiction in contravention of applicable law.\n\nAbout OneSpaWorld\n\nHeadquartered in Nassau, Bahamas, OneSpaWorld is one of the largest health and wellness services companies in the world. OneSpaWorld’s distinguished health and wellness centers offer guests a comprehensive suite of premium health, wellness, fitness and beauty services, treatments, and products currently onboard 179 cruise ships and at 51 destination resorts around the world. OneSpaWorld holds the leading market position within the cruise line industry of the historically fast-growing international leisure market and has been built upon its exceptional service standards, expansive global recruitment, training and logistics platforms, irreplicable operating infrastructure, extraordinary team and a history of service and product innovation that has enhanced its guests’ personal care experiences while vacationing for over 65 years.\n\nForward-Lookin...