XWELL, Inc. (NASDAQ:XWEL) shares rose 158.10% in after-hours trading on Tuesday to $0.98, following the company's announcement of a private placement expected to generate gross proceeds of approximately $31.3 million, before deducting placement agent fees and offering expenses.

Inside the Deal

XWELL entered into a securities purchase agreement with a series of American Ventures, LLC, a Texas-based real estate investment firm, issuing approximately 31,333 shares of Series H Convertible Preferred Stock with a stated value of $1,000 per share, convertible into 66.66 million shares of common stock at an initial conversion price of $0.47 per share.

The placement also includes accompanying warrants to purchase up to 66.66 million shares, exercisable immediately at $0.345 per share, expiring three years from issuance.

Dominari Securities ...