Mergers & Acquisitions ·
Stockholders approve sale of XpresSpa and XpresTest to Express Wellness Group
XWELXWELL, Inc.
XWELL, Inc. stockholders voted to approve the Securities Purchase Agreement for the sale of its equity interests in XpresSpa Holdings, LLC and XpresTest, Inc., collectively known as the Divestiture Companies, to Express Wellness Group, LLC. The proposal received 5,423,862 votes in favor against 100,417 opposed. Additionally, shareholders approved a non-binding advisory resolution regarding executive compensation related to the transaction and increased shares reserved under the 2020 Plan from 3,125,000 to 4,346,134. XWELL operates in the health and wellness sector.