Key Summary: On June 17, 2024, CPC Pain & Wellness SPV, LLC (9.42%) expressed concerns over the company’s long-term underperformance, advocating for Board representation and a change in its composition to enhance governance, capital allocation, operations, and explore strategic alternatives. They notified the company of their intent to nominate four candidates for the Board. On June 21, 2024, the company rejected this nomination. On July 19, 2024, CPC Pain & Wellness SPV, LLC filed a complaint in the Delaware Court of Chancery, challenging the rejectionsMarket Cap: $7 million | XWELL, Inc. provides health and wellness services in airport and off airport marketplaces in the United States and internationally.
On June 17, 2024, CPC Pain & Wellness SPV, LLC (9.42%) stated that they were concerned with the company’s long-term underperformance and believed that shareholder representation on the Board and a change in the composition of the Board were necessary to drive significant improvements to the company’s governance, capital allocation, and operations, and to explore strategic alternatives. Source
On June 17, 2024, CPC Pain & Wellness SPV, LLC notified the company of their intent to nominate four candidates for the Board. On June 21, 2024, the company rejected this nomination. On June 23, 2024, CPC Pain & Wellness SPV, LLC revised their notice, which was again rejected by the company on June 29, 2024.
On July 19, 2024, CPC Pain & Wellness SPV, LLC filed a complaint in the Delaware Court of Chancery, challenging the rejections and seeking to have their nominees included on the proxy card for the Annual Meeting, with a possible injunction to delay the meeting. Source
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