Business
XWELL Announces $1.4 Million Registered Direct Offering Priced At Premium to Market
NEW YORK, Aug. 06, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (Nasdaq: XWEL) (“XWELL” or the “Company”), an authority in wellness solutions for people on the go,
About this update from Xwell, Inc.
[{"type":"text","content":"NEW YORK, Aug. 06, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (Nasdaq: XWEL) (“XWELL” or the “Company”), an authority in wellness solutions for people on the go, today announced that it has entered into definitive agreements for the issuance and sale of an aggregate of 652,705 shares of its common stock, par value $0.01 per share, at a purchase price of $2.18 per share in a registered direct offering priced at a premium to market. The closing of the offering is expected to occur on or about August 8, 2024, subject to the satisfaction of customary closing conditions. The gross proceeds to the Company from the offering are expected to be approximately $1.4 million, before deducting other offering expenses payable by the Company. The Company intends to use the net proceeds of this offering for working capital and general corporate purposes. The shares of common stock offered in the registered direct offering described above are being offered by the Company pursuant to a shelf registration statement on Form S-3 (File No. 333-273726) that was previously filed with the Securities and Exchange Commission (“SEC”) on August 4, 2023, and subsequently declared effective on September 29, 2023. The offering of the shares of common stock to be issued in the registered direct offering are being offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying base prospectus relating to, and describing the terms of, the registered direct offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About XWELL, Inc. XWELL, Inc. (Nasdaq: XWEL) is a leading global wellness holding company operating multiple brands: XpresSpa®, Treat™, Naples Wax Center®, XpresCheck® and HyperPointe™. XpresSpa is a leading retailer of wellness services and related products, with 33 locations in 16 airports globally.Naples Wax Center is a group of upscale sk...