Why XpresSpa's Stock Is Trading Lower Today

XpresSpa Group, Inc. XSPA shares are trading lower after the company announced a $40 million registered direct offering priced at-the-market.

The company also announced the warrants have an exercise price of $5.25 per share, will be immediately exercisable and will expire 21 months from the issue date.

See Also: XpresSpa Advances COVID-19 Airport Screening Program With HyperPointe Contract

XpresSpa Group Inc is a health and wellness holding company. The company is engaged in building a preeminent pure-play health and wellness services company around its core asset XpresSpa.

The company's stock was trading down 10.46% at $4.79 on Wednesday at the time of publication. The stock has a 52-week high of $16.35 and a 52-week low of 15 cents.