XWELL exchanges $1.55M Series G Preferred for $3.39M convertible notes; amends terms

XWELL, Inc.

Exchanged $1,553,806 Stated Value of Series G Preferred Stock (including accrued dividends) for $3,387,138.80 senior secured convertible notes.
Filed Certificate of Amendment reducing Series G conversion price to $1.00 and removing requirement to maintain 200% cash reserves for conversion shares.
Added anti-dilution price-based adjustments to conversion price and provisions for accelerated conversion at lower of installment price or 80% VWAP.
Closing occurred November 10, 2025; exchange intended to modify rights of Series G Preferred holders.

item 3.03 item 5.03 item 9.01

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