XWELL raises $1.4M in registered direct offering at $2.18/share premium; issues 416K settlement shares

XWELL, Inc.

Registered direct offering of 652,705 shares at $2.18/share, gross proceeds ~$1.4M; expected close Aug 8, 2024.
Proceeds from offering will be used for working capital and general corporate purposes.
Issued 416,000 unregistered shares on Aug 5, 2024 as settlement consideration to Settlor Parties (XpresSpa Middle East B.V. and others).
Offering price represents a premium to market, signaling demand.
Shares offered under effective shelf registration statement (Form S-3) filed Aug 2023.

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