Xwell to sell 652,705 shares at $2.18 in registered direct offering

XWELL has entered into definitive agreements for the issuance and sale of an aggregate of 652,705 shares of its common stock, par value $0.01 per share, at a purchase price of $2.18 per share in a registered direct offering priced at a premium to market. The closing of the offering is expected to occur on or about August 8, 2024, subject to the satisfaction of customary closing conditions. The gross proceeds to the Company from the offering are expected to be approximately $1.4 million, before deducting other offering expenses payable by the Company. The Company intends to use the net proceeds of this offering for working capital and general corporate purposes.