- XWELL, Inc. entered into a **Securities Exchange and Amendment Agreement** on **November 3, 2025**, to exchange a portion of its outstanding **Series G Convertible Preferred Stock**, including **$1,553,806.00** in accrued dividends, for **Senior Secured Convertible Notes** with an aggregate principal amount of **$3,387,138.80**.  **[1410428_0001104659-25-106407_tm2530065d1_ex10-1.htm:0]** **[1410428_0001104659-25-106407_tm2530065d1_8k.htm:1]** 
- The **conversion price** for the Series G Convertible Preferred Stock was reduced from **$1.496** to **$1.00**.  **[1410428_0001104659-25-106407_tm2530065d1_ex3-1.htm:0]** **[1410428_0001104659-25-106407_tm2530065d1_8k.htm:1]** **[1410428_0001104659-25-106407_tm2530065d1_8k.htm:2]** 
- The exercise price for the **Series A and Series B Warrants** was also reduced to **$1.00**, and anti-dilution provisions were added.  **[1410428_0001104659-25-106407_tm2530065d1_8k.htm:2]** 
- The new Senior Secured Convertible Notes are secured by a **first priority security interest** in the company's assets and include covenants requiring the company to maintain **$1,000,000** in unencumbered cash and deposit **$1,350,000** into a segregated account.  **[1410428_0001104659-25-106407_tm2530065d1_8k.htm:1]** **[1410428_0001104659-25-106407_tm2530065d1_8k.htm:4]** 
- XWELL, Inc. is required to hold a stockholder meeting by **December 31, 2025**, to seek approval for the issuance of common stock upon conversion of the Notes and the terms of the amended preferred stock and warrants, particularly for issuances exceeding **19.99%** of outstanding shares at prices below the Nasdaq "Minimum Price".  **[1410428_0001104659-25-106407_tm2530065d1_8k.htm:2]**

XWELL (XWEL)