NEW YORK, December 17, 2020 (GLOBE NEWSWIRE) – XpresSpa Group, Inc. (Nasdaq: XSPA) (“XpresSpa” or the “Company”), a health and wellness company, today announced that it had entered into a securities purchase arrangement with several healthcare-focused institutional investors to purchase 24,509,806 of its common stock (or common stock equivalents in place of them) and short warrants. term to purchase up to a total of 24,509,806 common shares, in a market offer under Nasdaq rules. The combined purchase price for one common share (or the equivalent of one common share) and one warrant to purchase one common share is $ 1.70. The warrants have an exercise price of $ 1.70 per share, will be immediately exercisable and will expire 24 months after the date of issue.
HC Wainwright & Co. is acting as the exclusive placement agent for the offering.
The gross proceeds of the registered direct placement are expected to be approximately $ 41.66 million before the deduction of sales agent fees and other expenses related to the placement. The Company intends to use the net proceeds for future locations, as well as for working capital and general corporate purposes. The registered direct placement is expected to close on or around December 21, 2020, subject to the satisfaction of customary closing conditions.
The securities described above are offered under a “shelf” registration statement (file no. 333-240084) filed with the Securities and Exchange Commission (SEC) and declared effective on August 5, 2020. These securities are not may be offered only by means of a prospectus, including a prospectus supplement, forming part of the actual registration statement. A prospectus supplement and the accompanying prospectus relating to the offering of the securities will be filed with the SEC. Electronic copies of the prospectus supplement and accompanying prospectus relating to the offering of the securities may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting HC Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by email: [email protected] or by phone: (646) 975-6996.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor any sale of such securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification in 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 associated health and wellness products, with 50 locations at 25 airports around the world. Through its subsidiary XpresTest, Inc., the Company also offers COVID-19 screening and testing under its XpresCheck ™ brand at JFK International Airport and Newark Liberty International Airport. To learn more about the XpresSpa group, visit www.XpresSpa.com. To learn more about XpresCheck, visit www.XpresCheck.com.
Forward-looking statements
This press release may contain “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These include statements preceded, followed or which otherwise include the words “believes”, “expects”, “anticipates”, “estimates”, “plans”, “intends”, “should”, “research”, “future”, “continues” or the negative of these terms, or other comparable terminology. These statements include, but are not limited to, statements relating to our ability to close the offering and the gross proceeds of the offering. Forward-looking statements relating to expectations regarding results or future events are based on information available to XpresSpa as of today and are not guarantees of the future performance of the company, and actual results may differ materially from the results and expectations discussed. vs on these and other risks are contained in the latest annual report filed by XpresSpa on Form 10-K, Quarterly Report on Form 10-Q, recent current reports on Form 8-K and other filings. with the Securities and Exchange Commission. All subsequent written and oral forward-looking statements regarding XpresSpa, or other matters and attributable to XpresSpa or any person acting on its behalf are expressly qualified in their entirety by the caveats above. XpresSpa does not undertake to publicly update any of these forward-looking statements to reflect events or circumstances that may arise after the date hereof, except as required by law.
Investor Relations
RIC
Raphael Gross
(203) 682-8253
