Business
XpresSpa Group Announces Pricing of $1,790,000 Registered Direct Offering Priced At-The-Market
NEW YORK, March 25, 2020 (GLOBE NEWSWIRE) -- XpresSpa Group, Inc. (Nasdaq: XSPA) (“XpresSpa” or the “Company”), today announced that it has entered into a
About this update from Xwell, Inc.
[{"type":"text","content":"NEW YORK, March 25, 2020 (GLOBE NEWSWIRE) -- XpresSpa Group, Inc. (Nasdaq: XSPA) (“XpresSpa” or the “Company”), today announced that it has entered into a securities purchase agreement with institutional investors to purchase approximately $1.79 million of its common shares (or pre-funded warrants to purchase common shares in lieu thereof) in a registered direct offering priced at-the-market under Nasdaq rules.\n Under the terms of the securities purchase agreement, XpresSpa has agreed to sell approximately 8,750,000 common shares (or pre-funded warrants to purchase common shares in lieu thereof). The gross proceeds to the Company from the registered direct offering is expected to be approximately $1.79 million before deducting fees and other estimated offering expenses. The registered direct offering is expected to close on or about March 27, 2020, subject to the satisfaction of customary closing conditions. Palladium Capital Advisors, LLC acted as a finder in connection with the offering. The common shares and pre-funded warrants are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-232764) previously filed and declared effective by the Securities and Exchange Commission (SEC). This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. 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 health and wellness products, with 51 locations in 25 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 premium spa services, as well as luxury travel products and accessories. XpresSpa provides almost one million services to customers per year at its locations in the United States, Netherlands, and the United Arab Emirates. To learn more about XpresSpa Group, visit: www.XpresSpaGroup.com. To learn more about XpresSpa, visit www.XpresSpa.com. Forward-Looking StatementsThis press ...