XWELL, Inc. announced on August 3, 2026, that President and CEO Ezra T. Ernst resigned from its Board of Directors and all committees to focus exclusively on his executive responsibilities. The resignation was not due to any disagreement with the company regarding operations or policies. To fill the resulting vacancy, the Board appointed Gerard Reid as a director effective immediately. Mr. Reid brings extensive experience in energy transition, capital markets, and corporate strategy, having previously served as Managing Director at Jefferies International and co-founder of Alexa Capital. He will receive an annual cash fee of $35,000 for his board service. XWELL operates in the technology, infrastructure, and emerging growth markets.

XWELL, Inc. entered into a Securities Purchase Agreement on July 6, 2026, to sell its equity interests in XpresSpa Holdings, LLC and XpresTest, Inc. to Express Wellness Group, LLC for a base purchase price of $13,000,000. The transaction includes $2,650,000 to be held in escrow and requires stockholder approval. XWELL will retain its health and wellness retail locations outside of airports. XWELL, Inc. operates in the health and wellness retail industry.