Business
XpresSpa Announces Results of Annual Meeting of Stockholders
All Ballot Proposals Approved by Stockholders NEW YORK, Oct. 02, 2019 (GLOBE NEWSWIRE) -- XpresSpa Group, Inc. (Nasdaq: XSPA), a health and wellness company,
About this update from Xwell, Inc.
[{"type":"text","content":"All Ballot Proposals Approved by Stockholders\nNEW YORK, Oct. 02, 2019 (GLOBE NEWSWIRE) -- XpresSpa Group, Inc. (Nasdaq: XSPA), a health and wellness company, announced that at the Annual Meeting of Stockholders, which was held earlier today in New York City, all ballot proposals put forth by management for consideration were approved by stockholders, with over 83% of the aggregate outstanding shares of the Company’s common stock, Series D Preferred Stock, and Series E Preferred Stock having voted.\n Doug Satzman, XpresSpa Group CEO, stated, “We sincerely thank our stockholders for approving all of the ballot proposals that were voted upon at today’s annual meeting. With our stockholders’ support, we now have the flexibility needed to execute on our nearer-term and longer-term priorities and build upon what we have already accomplished over the past several months in strengthening our business.” Included among the ballot proposals, stockholders approved the following: The re-election of Bruce Bernstein, Andy Heyer, Salvatore Giardina, Douglas Satzman, and Donald Stout to our Board of Directors, demonstrating their continued support of the existing board. The board has also previously volunteered to restructure compensation, shifting to more common stock incentives and less cash to show the board’s support for the future of the business.All aspects of the transactions that were announced on July 8, 2019 that required stockholders’ approval. These series of transactions provide management with greater flexibility to operate the business with a more straightforward equity structure.The conversion of Series D Preferred Stock to common stock, which ensures a better alignment of objectives and results in the Company having 13,881,448 shares of common stock outstanding; andThe expansion of the existing employee stock plan to allow management to provide greater incentives for employees across the whole organization. About XpresSpa Group, Inc. XpresSpa Group, Inc. (Nasdaq: XSPA) is a health and wellness holding company. XpresSpa Group’s core asset, XpresSpa, is a leading airport retailer of spa services and related products, with 51 locations in 24 airports globally. XpresSpa offers services that are tailored specifically to the busy travel customer. XpresSpa is committed to providing exceptional customer experiences with its innovative ...