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XWELL Announces Closing of $1.4 Million Registered Direct Offering Priced At Premium to Market

NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (NASDAQ:XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today announced the closing of its previously announced registered direct offering priced at a premium to market 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. The gross proceeds to the Company from the offering were 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 were 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 issued in the registered direct offering was made 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 ...