DEFA14A: XWELL Inc. Announces CPC Pain & Wellness Withdraws Proxy Fight and Lawsuit

XWELL Inc. reports that CPC Pain & Wellness SPV, LLC has withdrawn its threatened proxy fight and related lawsuit concerning the company's 2024 annual meeting of stockholders.

Summary

• XWELL Inc. announced that CPC Pain & Wellness SPV, LLC (CPC) has withdrawn its threatened proxy fight and related lawsuit against the company.
• The withdrawal is related to XWELL's 2024 Annual Meeting of Stockholders.
• Bruce Bernstein, Chairman of the Board, expressed pleasure at CPC's decision and reaffirmed the company's focus on delivering long-term value for stockholders.
• XWELL is a global wellness holding company operating brands such as XpresSpa, Treat, Naples Wax Center, XpresCheck, and HyperPointe.
• The company intends to file a definitive proxy statement and a WHITE Proxy Card with the SEC in connection with the 2024 Annual Meeting.
• Stockholders are encouraged to read the proxy statement and related documents when they become available.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive due to the resolution of the proxy fight and management's focus on long-term value creation. However, the forward-looking statements and inherent risks temper the overall sentiment.

Positives

• The withdrawal of the proxy fight and lawsuit by CPC removes a potential distraction and expense for XWELL.
• Management expresses a commitment to delivering long-term value for stockholders.
• The company has multiple brands operating in the wellness space.

Risks

• The press release contains forward-looking statements that are subject to risks and uncertainties.
• Actual results may vary materially from expectations.
• The company's future performance depends on its ability to execute its strategic plan.

Future Outlook

The company is focused on delivering on its strategic plan to drive durable, long-term value creation for stockholders.

Management Comments

• 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.'
• Bruce Bernstein also stated, 'Looking ahead, we are fully focused on delivering on our strategic plan to drive durable, long-term value creation for stockholders.'

Industry Context

The wellness industry is growing, and XWELL operates in various segments including spa services, skincare, and healthcare data analytics. The resolution of the proxy fight allows management to focus on these core areas.

Stakeholder Impact

• The resolution of the proxy fight is likely to be viewed positively by shareholders.
• Employees may benefit from a more stable and focused management team.
• Customers should see continued service and innovation from XWELL's various brands.

Next Steps

• The company intends to file a definitive proxy statement and a WHITE Proxy Card with the SEC.
• Stockholders are encouraged to read the proxy statement and related documents when they become available.
• Continued engagement with stockholders leading up to XWELL's 2024 Annual Meeting.

Key Dates

Keywords

XWELL, proxy fight, lawsuit, CPC Pain & Wellness, annual meeting, stockholders, wellness, XpresSpa, Treat, Naples Wax Center, XpresCheck, HyperPointe