XWELL closes $4M private placement of Series G convertible preferred stock and warrants

XWELL, Inc.

Raised $4.0M gross proceeds via sale of 4,000 shares of Series G Convertible Preferred Stock (conversion price $1.496) and warrants to investors.
Warrants: Series A at $1.496/share, Series B at $1.7952/share, both exercisable immediately for 5 years.
Proceeds to be used for working capital, AI-driven health/wellness product development, and expansion of XWELL locations beyond airports.
Must file resale registration statement within 30 days and seek stockholder approval for conversion/exercise exceeding 19.99% of outstanding common stock.
Preferred stock carries 8% annual dividend (15% upon trigger event) and mandatory redemption in 6 quarterly installments starting Feb 2025.

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