XWELL (XWEL) Registration filing summary

Company overview and business model

• Operates as a global wellness organization with three segments: XpresSpa (airport spa services), XpresTest (bio-surveillance and testing), and Naples Wax Center (hair removal and skincare).

• Expanded internationally with spa locations in the UAE, Netherlands, and Turkey, and is pursuing further international growth.

• Transitioned from COVID-19 testing to bio-surveillance in partnership with the CDC, securing multi-year contracts.

• Acquired Naples Wax Center to diversify beyond airport-based services and scale the wellness platform.

Financial performance and metrics

• XpresTest secured a three-year CDC contract with a base value of $22.2 million and a maximum of $24.8 million.

• Naples Wax Center was acquired for $1.624 million to support long-term financial goals.

Use of proceeds and capital allocation

• Will not receive proceeds from resale of shares by selling stockholders; proceeds from warrant exercises, if any, will be used for general corporate purposes.