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Why XpresSpa's Stock Is Trading Lower Today

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Why XpresSpa's Stock Is Trading Lower Today

XpresSpa (NASDAQ: XSPA) shares are trading lower on Wednesday after the company announced a $35.5 million registered direct offering priced at-the-market under Nasdaq rules.

XpresSpa Group 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. Geographically, it generates a majority of its revenue from the U.S.

XpresSpa shares were trading down 16.82% at $2.74 on Wednesday at the time of publication. The stock has a 52-week high of $8.82 and a 52-week low of 15 cents.

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