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XSPA

XpresSpa

$1.52

-0.17 (-10.06%)

09:32
07/08/19
07/08
09:32
07/08/19
09:32

XpresSpa announces debt, equity transactions to improve capital structure

XpresSpa Group announced that it has improved its capital structure and strengthened its financial condition through a series of debt and equity transactions. This new round of funding provides the Company the necessary working capital for operations, new initiatives to improve the business and capital to continue to renovate spas and build five new spas by the end of 2019. The Company recently eliminated over $2.3M of secured convertible notes due November 17, 2019 pursuant to an agreement by which the notes were converted into an aggregate of 942,432 shares of underlying common stock at a conversion price equal to $2.48 per share. B3D, LLC, XpresSpa's senior secured lender, has agreed to amend the Company's $6.5M senior secured note. The amendment extends the senior secured note's maturity by 17 months to May 31, 2021, increases the principal amount by $0.5M, reduces the interest rate from 11.24% to 9.00%, provides the Company the option to conserve cash and pay interest in common stock and, subject to Shareholder Approval, the entire principal amount due of the senior secured note will be convertible into shares of common stock at a conversion price of $2.00 per share. This amendment will enable the Company to deploy more capital to operations and eliminate its obligation to pay down or refinance the current principal amount of $6.5M by December 31, 2019. The Company recently received a second capital infusion from Calm.com, Inc. of $2.5M in 5.00% unsecured convertible notes due May 31, 2022. The outstanding principal balance of the Calm Note will be convertible at Calm's option into shares of Series E Preferred Stock at a conversion price equal to $3.10 per share. In addition, Calm was issued warrants to purchase 937,500 shares of common stock which are exercisable beginning six months from the time of issuance, have a term of five years, and feature an exercise price of $2.00 per share. In addition, on July 8, 2019, holders constituting a majority of the outstanding shares of Series D Preferred Stock agreed to convert approximately $24 million of the Series D 9% Convertible Preferred Stock into shares of common stock at a price of $2.00 per share, subject to Shareholder Approval. The conversion of the Series D Preferred Stock creates a more simplified capital structure, aligns the holders of the Series D Preferred Stock with the common shareholders and removes the dilutive uncertainty associated with the Series D Preferred Stock when it automatically converted into common stock at maturity at the then current market price. Finally, the Company entered into an amendment with the investors to its May 2018 Securities Purchase Agreement to provide for, among other provisions, the waiver of certain provisions regarding restrictions on subsequent equity sales and participation in subsequent financings, and the removal of certain such provisions upon receipt of Shareholder Approval, the amendment to certain provisions of the Class A Warrants issued pursuant to the May 2018 SPA to reduce the exercise price of the Class A Warrants issuable pursuant to anti-dilution price protection contained in such Class A Warrants to $2.00 per share with respect to a limited number of Class A Warrants and to $2.00 per share with respect to the remainder Class A Warrants following receipt of Shareholder Approval, the cancellation of all outstanding Class B Warrants and the establishment of a new class of preferred stock, to be designated Series F Convertible Preferred Stock and the issuance of 9,000 shares of such Series F Preferred Stock to the parties to the May 2018 SPA Amendment, which will be convertible into common stock upon receipt of Shareholder Approval.

TODAY'S FREE FLY STORIES

CSX

CSX

$71.17

-8.4 (-10.56%)

, UNP

Union Pacific

$164.98

-10.12 (-5.78%)

13:01
07/17/19
07/17
13:01
07/17/19
13:01
Downgrade
CSX, Union Pacific, Kansas City Southern, Norfolk Southern rating change  »

Cascend downgrades four…

CSX

CSX

$71.17

-8.4 (-10.56%)

UNP

Union Pacific

$164.98

-10.12 (-5.78%)

KSU

Kansas City Southern

$117.42

-5.41 (-4.40%)

NSC

Norfolk Southern

$193.18

-13.35 (-6.46%)

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UPS

UPS

$103.54

-2.07 (-1.96%)

12:55
07/17/19
07/17
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12:55
Options
UPS put volume heavy and directionally bearish »

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VAR

Varian Medical

$134.22

-0.72 (-0.53%)

, VRAY

ViewRay

$9.31

0.16 (1.75%)

12:49
07/17/19
07/17
12:49
07/17/19
12:49
Recommendations
Varian Medical, ViewRay analyst commentary  »

Competitor recall…

VAR

Varian Medical

$134.22

-0.72 (-0.53%)

VRAY

ViewRay

$9.31

0.16 (1.75%)

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TTWO

Take-Two

$118.37

0.88 (0.75%)

12:43
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Earnings
Stephens, Cowen up Take-Two price targets ahead of Q1 results »

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SSRM

SSR Mining

$14.72

0.665 (4.73%)

12:25
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12:25
Options
SSR Mining call volume above normal and directionally bullish »

Bullish option flow…

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12:25
07/17/19
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12:25
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12:25
General news
Treasury Action: the downdraft in European rates has helped pulling Treasury yields lower »

Treasury Action: the…

CAPR

Capricor Therapeutics

$6.39

0.48 (8.12%)

12:25
07/17/19
07/17
12:25
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12:25
Conference/Events
Capricor Therapeutics to host conference call »

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IBM

IBM

$142.94

-0.6 (-0.42%)

12:24
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Earnings
Fly Intel: What to watch in IBM's earnings report »

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AMZN

Amazon.com

$1,999.39

-10.61 (-0.53%)

, QCOM

Qualcomm

$76.74

1.08 (1.43%)

12:23
07/17/19
07/17
12:23
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On The Fly
Fly Intel: Wall Street's top stories at midday »

Stocks have dropped in…

AMZN

Amazon.com

$1,999.39

-10.61 (-0.53%)

QCOM

Qualcomm

$76.74

1.08 (1.43%)

MSFT

Microsoft

$137.11

0.03 (0.02%)

T

AT&T

$33.47

-0.1 (-0.30%)

BAC

Bank of America

$29.47

0.475 (1.64%)

CSX

CSX

$71.11

-8.46 (-10.63%)

ABT

Abbott

$86.33

3.22 (3.87%)

SGEN

Seattle Genetics

$73.43

10.31 (16.33%)

INO

Inovio

$2.65

-0.35 (-11.67%)

NUS

Nu Skin

$37.95

-7.55 (-16.59%)

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KSU

Kansas City Southern

$118.05

-4.78 (-3.89%)

12:18
07/17/19
07/17
12:18
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12:18
Downgrade
Kansas City Southern rating change  »

Kansas City Southern…

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NSC

Norfolk Southern

$194.90

-11.63 (-5.63%)

12:18
07/17/19
07/17
12:18
07/17/19
12:18
Downgrade
Norfolk Southern rating change  »

Norfolk Southern…

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CSX

CSX

$71.21

-8.36 (-10.51%)

12:18
07/17/19
07/17
12:18
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12:18
Downgrade
CSX rating change  »

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UNP

Union Pacific

$166.50

-8.6 (-4.91%)

12:17
07/17/19
07/17
12:17
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12:17
Downgrade
Union Pacific rating change at C.K. Cooper »

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  • 18

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  • 26

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
07/17/19
07/17
12:17
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12:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
07/17/19
07/17
12:16
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12:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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NTAP

NetApp

$59.31

0.36 (0.61%)

12:15
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07/17
12:15
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Options
NetApp put volume heavy and directionally bearish »

Bearish flow noted in…

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12:15
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12:15
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General news
Breaking General news story  »

Kansas City Federal…

CBB

Cincinnati Bell

$4.28

-0.44 (-9.32%)

12:00
07/17/19
07/17
12:00
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12:00
Hot Stocks
Cincinnati Bell falls -9.5% »

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  • 08

    Aug

JDST

Direxion Daily Junior Gold Miners Index Bear 3x Shares

$21.02

-2.08 (-9.00%)

12:00
07/17/19
07/17
12:00
07/17/19
12:00
Hot Stocks
Direxion Daily Junior Gold Miners Index Bear 3x Shares falls -9.0% »

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NUS

Nu Skin

$38.13

-7.37 (-16.20%)

12:00
07/17/19
07/17
12:00
07/17/19
12:00
Hot Stocks
Nu Skin falls -16.0% »

Nu Skin is down -16.0%,…

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  • 06

    Aug

AG

First Majestic

$9.10

0.53 (6.18%)

12:00
07/17/19
07/17
12:00
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12:00
Hot Stocks
First Majestic rises 6.2% »

First Majestic is up…

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JNUG

Direxion Daily Jr Gld Mnrs Bull 3X Shrs

$70.17

5.71 (8.86%)

12:00
07/17/19
07/17
12:00
07/17/19
12:00
Hot Stocks
Direxion Daily Jr Gld Mnrs Bull 3X Shrs rises 8.7% »

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FSM

Fortuna Silver Mines

$3.55

0.37 (11.65%)

12:00
07/17/19
07/17
12:00
07/17/19
12:00
Hot Stocks
Fortuna Silver Mines rises 11.6% »

Fortuna Silver Mines is…

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11:55
07/17/19
07/17
11:55
07/17/19
11:55
General news
Oil Action: WTI crude »

Oil Action: WTI crude…

11:55
07/17/19
07/17
11:55
07/17/19
11:55
Conference/Events
Federal Reserve Bank of Kansas City to speak on economic outlook »

Kansas City Federal…

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