XWELL to Divest XpresSpa and XpresTest for $13M to Fund National Security Pivot
XWEL•XWELL has agreed to sell XpresSpa Holdings and XpresTest for $13 million, subject to adjustments, to an affiliate of Face Haus. The divestiture aims to streamline operations and redirect capital toward a strategic pivot into the national security sector, with closure expected later in 2026 pending stockholder approval.
1. Transaction Details
XWELL has entered into a definitive agreement to sell XpresSpa Holdings, LLC and XpresTest, Inc. to an affiliate of Face Haus for $13 million, subject to certain closing adjustments. The divestiture excludes health and wellness operations at retail locations outside of airports.
2. Strategic Rationale
The transaction is designed to simplify XWELL’s portfolio, strengthen its balance sheet and unlock value for stockholders. Proceeds are earmarked to fund growth initiatives as the company shifts focus toward opportunities in the national security sector.
3. Remaining Operations
XWELL will retain its retail health and wellness services outside airports, including brands such as Naples Wax Center and XpresCheck. The company will continue to streamline operations and reduce expenses across its remaining divisions.
4. Next Steps and Conditions
The divestiture is expected to close later in 2026, contingent on XWELL stockholder approval and satisfaction of customary closing conditions. In parallel, XWELL will pursue capital deployment toward its evolving strategic objectives.
