{"id":2115,"date":"2018-05-16T09:38:39","date_gmt":"2018-05-16T09:38:39","guid":{"rendered":"https:\/\/palladiumcapital.com\/?p=2115"},"modified":"2018-05-16T11:10:22","modified_gmt":"2018-05-16T11:10:22","slug":"palladium-capital-advisors-sole-placement-agent-for-4438000-capital-raise-for-xpresspa-group-inc-nasdaqxspa","status":"publish","type":"post","link":"https:\/\/www.palladiumcapital.com\/palladium-capital-advisors-sole-placement-agent-for-4438000-capital-raise-for-xpresspa-group-inc-nasdaqxspa\/","title":{"rendered":"Palladium Capital Advisors Sole Placement Agent for $4,438,000 Capital Raise for XpresSpa Group, Inc. (NASDAQ:XSPA)"},"content":{"rendered":"<p><a href=\"https:\/\/palladiumcapital.com\/wp-content\/uploads\/2018\/05\/XSPA2Q18-Tombstone-4.438M.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-2116 alignright\" src=\"https:\/\/palladiumcapital.com\/wp-content\/uploads\/2018\/05\/XSPA2Q18-Tombstone-4.438M-263x300.jpg\" alt=\"\" width=\"263\" height=\"300\" srcset=\"https:\/\/www.palladiumcapital.com\/wp-content\/uploads\/2018\/05\/XSPA2Q18-Tombstone-4.438M-263x300.jpg 263w, https:\/\/www.palladiumcapital.com\/wp-content\/uploads\/2018\/05\/XSPA2Q18-Tombstone-4.438M-150x171.jpg 150w, https:\/\/www.palladiumcapital.com\/wp-content\/uploads\/2018\/05\/XSPA2Q18-Tombstone-4.438M.jpg 570w\" sizes=\"(max-width: 263px) 100vw, 263px\" \/><\/a>NEW YORK, NY \u2013 On May 15, 2018, Palladium Capital Advisors, LLC, acted as sole placement agent for XpresSpa Group, Inc. (the \u201cCompany\u201d) facilitating the following transaction. The Company entered into a securities purchase agreement (the \u201cAgreement\u201d) with certain institutional investors (the \u201cInvestors\u201d), pursuant to which the Company agreed to sell up to (i) an aggregate principal amount of $4,438,000 in 5% Secured Convertible Notes due 2019, which includes $88,000 to be issued to Palladium Capital Advisors as Placement Agent (the \u201cConvertible Notes\u201d), convertible into shares of the Company\u2019s common stock, par value $0.01 per share (the \u201cCommon Stock\u201d) at a conversion price of $0.62 per share, (ii) Class A Warrants (the \u201cClass A Warrants\u201d) to purchase 7,157,259 shares of Common Stock at an exercise price of $0.62 per share and (iii) Class B Warrants (the \u201cClass B Warrants,\u201d and together with the Class A Warrants, the \u201cWarrants\u201d) to purchase 3,578,630 shares of Common Stock at an exercise price of $0.62 per share. The Convertible Notes bear interest at a rate of 5% per annum. The Convertible Notes are senior secured obligations of the Company and are secured by certain of its personal property. Unless earlier converted or redeemed, the Convertible Notes will mature in November 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, NY \u2013 On May 15, 2018, Palladium Capital Advisors, LLC, acted as sole placement agent for XpresSpa Group, Inc. (the \u201cCompany\u201d) facilitating the following transaction. The Company entered into a securities purchase agreement (the \u201cAgreement\u201d) with certain institutional investors (the \u201cInvestors\u201d), pursuant to which the Company agreed to sell up to (i) an [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"_links":{"self":[{"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/posts\/2115"}],"collection":[{"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/comments?post=2115"}],"version-history":[{"count":0,"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/posts\/2115\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/media?parent=2115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/categories?post=2115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/tags?post=2115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}