XWELL Comments on CPC’s Withdrawal of Threatened Proxy Fight and Related Lawsuit
XWELL, Inc. (Nasdaq: XWEL), a leading provider of wellness solutions for travelers, has announced that CPC Pain & Wellness SPV, (CPC) has withdrawn its threatened proxy fight and related lawsuit against the company. This decision is related to XWELL's upcoming 2024 annual meeting of stockholders. Bruce Bernstein, Chairman of the Board, expressed satisfaction with CPC's withdrawal and emphasized the company's focus on executing its strategic plan to create long-term value for stockholders. He also highlighted the company's appreciation for constructive engagement with stockholders and their commitment to continuing this dialogue leading up to the 2024 Annual Meeting.
XWELL, Inc. (Nasdaq: XWEL), un fornitore leader di soluzioni per il benessere dei viaggiatori, ha annunciato che CPC Pain & Wellness SPV, (CPC) ha ritirato la sua minaccia di controversia e la relativa causa contro l'azienda. Questa decisione è legata all'imminente assemblea annuale degli azionisti 2024. Bruce Bernstein, Presidente del Consiglio, ha espresso soddisfazione per il ritiro di CPC e ha sottolineato l'impegno dell'azienda nell'esecuzione del suo piano strategico per creare valore a lungo termine per gli azionisti. Ha anche evidenziato l'apprezzamento dell'azienda per il dialogo costruttivo con gli azionisti e la loro volontà di continuare questo confronto in vista dell'Assemblea Annuale 2024.
XWELL, Inc. (Nasdaq: XWEL), un proveedor líder de soluciones de bienestar para viajeros, ha anunciado que CPC Pain & Wellness SPV, (CPC) ha retirado su amenaza de lucha por poder y la demanda relacionada contra la compañía. Esta decisión está relacionada con la próxima reunión anual de accionistas 2024. Bruce Bernstein, Presidente de la Junta, expresó su satisfacción por el retiro de CPC y enfatizó el enfoque de la compañía en ejecutar su plan estratégico para crear valor a largo plazo para los accionistas. También destacó el aprecio de la empresa por la interacción constructiva con los accionistas y su compromiso de continuar este diálogo hasta la Reunión Anual 2024.
XWELL, Inc. (Nasdaq: XWEL), 여행자를 위한 웰빙 솔루션의 선도 제공업체는 CPC Pain & Wellness SPV, (CPC)가 회사에 대한 위협적인 프록시 싸움과 관련 소송을 철회했다고 발표했습니다. 이 결정은 XWELL의 다가오는 2024년 주주 연례 회의와 관련이 있습니다. 브루스 번스타인 이사회 의장은 CPC의 철회에 대한 만족을 표하며, 주주를 위한 장기 가치 창출을 위해 회사의 전략 계획을 실행하는 데 집중하고 있다고 강조했습니다. 그는 또한 주주와의 건설적인 교류에 대한 회사의 감사와 2024년 연례 회의에 앞서 이러한 대화를 계속할 것이라는 다짐을 강조했습니다.
XWELL, Inc. (Nasdaq: XWEL), un fournisseur de solutions de bien-être de premier plan pour les voyageurs, a annoncé que CPC Pain & Wellness SPV, (CPC) a retiré sa menace de lutte par procuration et la poursuite connexe contre l'entreprise. Cette décision est liée à la prochaine assemblée annuelle des actionnaires 2024. Bruce Bernstein, Président du Conseil, a exprimé sa satisfaction quant au retrait de CPC et a souligné l'engagement de l'entreprise à exécuter son plan stratégique pour créer de la valeur à long terme pour les actionnaires. Il a également mis en avant l'appréciation de l'entreprise pour un engagement constructif avec les actionnaires et leur engagement à poursuivre ce dialogue jusqu'à l'Assemblée Annuelle 2024.
XWELL, Inc. (Nasdaq: XWEL), ein führender Anbieter von Wellness-Lösungen für Reisende, hat angekündigt, dass CPC Pain & Wellness SPV, (CPC) seinen angekündigten Proxy-Kampf und die damit verbundene Klage gegen das Unternehmen zurückgezogen hat. Diese Entscheidung hängt mit der bevorstehenden Jahreshauptversammlung der Aktionäre 2024 zusammen. Bruce Bernstein, Vorsitzender des Vorstands, äußerte seine Zufriedenheit über den Rückzug von CPC und betonte den Fokus des Unternehmens auf die Umsetzung seines strategischen Plans zur Schaffung langfristiger Werte für die Aktionäre. Er hob auch die Wertschätzung des Unternehmens für einen konstruktiven Dialog mit den Aktionären hervor und dessen Engagement, diesen Austausch bis zur Jahreshauptversammlung 2024 fortzusetzen.
- Resolution of potential proxy fight and lawsuit, reducing legal and administrative costs
- Renewed focus on executing strategic plan for long-term value creation
- Positive engagement with stockholders
- None.
NEW YORK, Aug. 13, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (Nasdaq: XWEL) (“XWELL” or the “Company”), an authority in wellness solutions for people on the go, today issued the following statement in response to CPC Pain & Wellness SPV, LLC’s (“CPC”) decision to withdraw its threatened proxy fight and related lawsuit against XWELL, in connection with the Company’s 2024 annual meeting of stockholders (the “2024 Annual Meeting”).
Bruce Bernstein, Chairman of the Board stated, “We are pleased that CPC decided to withdraw its threatened proxy fight and lawsuit against XWELL related to our 2024 Annual Meeting. Looking ahead, we are fully focused on delivering on our strategic plan to drive durable, long-term value creation for stockholders. We are appreciative of the constructive engagement we’ve had with stockholders to-date and look forward to continued engagement with them leading up to XWELL’s 2024 Annual Meeting.”
About XWELL, Inc.
XWELL, Inc. (Nasdaq: XWEL) is a leading global wellness holding company operating multiple brands: XpresSpa®, Treat™, Naples Wax Center®, XpresCheck® and HyperPointe™.
- XpresSpa is a leading retailer of wellness services and related products, with 33 locations in 16 airports globally.
- Naples Wax Center is a group of upscale skin care boutiques, with three locations currently operating.
- XpresCheck is a provider of screening and diagnostic testing in partnership with the CDC and Concentric by Ginkgo, conducting bio surveillance monitoring in its airport locations to identify new SARS-CoV-2 variants of interest and concern as well as other pathogens entering the country from across the world.
- HyperPointe is a leading digital healthcare and data analytics relationship company serving the global healthcare industry.
Contacts
Longacre Square Partners
Jessica McDougall / Christina Spellman, (646) 386-0091
XWELL@longacresquare.com
Forward Looking Statements
This press release may contain “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These include statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “should,” “seeks,” "future,” “continue,” or the negative of such terms, or other comparable terminology. Forward-looking statements relating to expectations about future results or events are based upon information available to XWELL as of today's date and are not guarantees of the future performance of the Company, and actual results may vary materially from the results and expectations discussed. Additional information concerning these and other risks is contained in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and other SEC filings (which reports were filed under the Company’s former name, XpresSpa Group, Inc., prior to its previously announced name change effective October 25, 2022). All subsequent written and oral forward-looking statements concerning XWELL, or other matters and attributable to XWELL or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. XWELL does not undertake any obligation to publicly update any of these forward-looking statements to reflect events or circumstances that may arise after the date hereof.
Important Additional Information
The Company intends to file a definitive proxy statement and a WHITE Proxy Card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the 2024 Annual Meeting. STOCKHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ SUCH PROXY STATEMENT, ACCOMPANYING WHITE PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE 2024 ANNUAL MEETING. Stockholders will be able to obtain the definitive proxy statement, any amendments or supplements to the proxy statement and other documents filed by the Company with the SEC at no charge at the SEC’s website at www.sec.gov. Copies will also be available at no charge at the Company’s website at https://www.xwell.com/sec-filings.
Participant Information
The Company, its directors and certain of its executive officers are “participants” (as defined in Section 14(a) of the Securities Exchange Act of 1934, as amended) in the solicitation of proxies from the Company’s stockholders in connection with the matters to be considered at the 2024 Annual Meeting. Information about the compensation of our named executive officers and our non-employee directors is set forth in the sections entitled “Compensation” and “Director Compensation” in the Company’s preliminary proxy statement, filed on August 2, 2024 (the “Preliminary Proxy Statement”), commencing on pages 23 and 25, respectively, and available here. Information regarding the participants’ holdings of the Company’s securities can be found in the section entitled “Security Ownership of Certain Beneficial Owners and Management” in the Preliminary Proxy Statement on page 31 and available here. If any filings are made by the Company with the SEC on Forms 3, 4, and 5 with respect to the participants’ holdings of the Company’s securities, the Company will provide updates and such filings will be available on the Company’s website at https://www.xwell.com/sec-filings or through the SEC’s website at www.sec.gov. Updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the section entitled “Security Ownership of Certain Beneficial Owners and Management” of the Company’s definitive proxy statement on Schedule 14A and other materials to be filed with the SEC.
FAQ
What recent legal challenge did XWELL (XWEL) face and how was it resolved?
How has XWELL (XWEL) responded to the withdrawal of CPC's proxy fight and lawsuit?
When is XWELL's (XWEL) next annual meeting of stockholders scheduled?
Who made the statement on behalf of XWELL (XWEL) regarding CPC's withdrawal?
