XSPA - XpresSpa under pressure on $41.66M registered direct offering

XpresSpa Group ([[XSPA]] -5.9%) to issue ~24.51M of its common shares and short-term warrants to purchase up to ~24.51M shares in a registered direct offering at a combined purchase price of $1.70 /share, for gross proceeds of ~$41.66M.The warrants have an exercise price of $1.70/share, immediately exercisable with expiry in 24 months. Net proceeds will be used for future locations, as well as for working capital and general corporate purposes.Registered direct offering is expected to close on December 21.Now Read: United Airlines partners with XpresSpa for COVID-19 testing

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XpresSpa under pressure on $41.66M registered direct offering