DivestmentJul 7, 2026, 09:16 AM
XWELL Divests XpresSpa/XpresTest for $13M, Pivots to National Security
AI Summary
XWELL, Inc. announced a definitive agreement to divest its XpresSpa Holdings, LLC and XpresTest, Inc. businesses to Express Wellness Group, LLC, an affiliate of Face Haus, for $13 million. This divestiture is intended to maximize stockholder value and facilitate a strategic restructuring, allowing XWELL to pursue opportunities in the national security sector. The proceeds from the sale are expected to fund growth initiatives in this new direction. The transaction is subject to stockholder approval and is anticipated to close later in 2026.
Key Highlights
- XWELL divests XpresSpa Holdings, LLC and XpresTest, Inc. businesses.
- Sale price is $13 million, subject to certain closing adjustments.
- Buyer is Express Wellness Group, LLC, an affiliate of Face Haus.
- Company will pivot to a new strategic direction in the national security sector.
- Proceeds will strengthen capital for growth initiatives in the new sector.
- Transaction is subject to XWELL stockholder approval and other conditions.
- Expected to close later in 2026.
Price Impact
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