Current Report Filing (8-k)
June 10 2020 - 08:43AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d)
of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): June 10, 2020
XPRESSPA GROUP, INC.
(Exact Name of Registrant as Specified
in its Charter)
Delaware
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001-34785
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20-4988129
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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254 West 31st Street, 11th
Floor
New York, New York 10001
(Address of Principal Executive Offices
and Zip Code)
Registrant’s telephone number,
including area code: (646) 525-4319
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which
registered
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Common stock, par value $0.01 per share
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XSPA
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The Nasdaq Stock Market
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Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 3.03
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Material Modifications of Rights of Security Holders.
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The information set forth in Item 5.03 is
incorporated herein by reference.
Item 5.03
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Amendments to Articles of Incorporation or Bylaws.
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Amendment to Amended and Restated Certificate of Incorporation
On June 10, 2020, XpresSpa
Group, Inc. (the “Company”) filed a certificate of amendment to its amended and restated certificate of incorporation
with the Secretary of State of the State of Delaware to effect a 1-for-3 reverse stock split of the Company’s shares of common
stock. Such amendment and ratio were previously approved by the Company’s stockholders and board of directors, respectively.
As a result of the
reverse stock split, every three (3) shares of the Company’s pre-reverse split common stock will be combined and reclassified
into one (1) share of common stock. Proportionate voting rights and other rights of common stock holders will not be affected by
the reverse stock split. Stockholders who would otherwise hold a fractional share of common stock will receive payment in cash
in lieu of any such resulting fractional shares of common stock as the post-reverse split amounts of common stock will be rounded
down to the nearest full share. Such cash payment in lieu of a fractional share of common stock will be calculated by multiplying
such fractional interest in one share of common stock by the closing trading price of the Company’s common stock on the trading
day immediately following the effective date of the reverse stock split, and rounded to the nearest cent. No fractional shares
will be issued in connection with the reverse stock split.
The reverse stock split
will be effective at 5:00 p.m., Eastern Time, on June 10, 2020, and the Company’s common stock will trade on the Nasdaq Capital
Market on a post-reverse split basis at the open of business on June 11, 2020. The Company’s post-reverse split common stock
has a new CUSIP number (CUSIP No. 98420U 703), but the par value and other terms of the common stock are not affected by the reverse
stock split.
The Company’s
transfer agent, American Stock Transfer & Trust Company, LLC, is acting as exchange agent for the reverse stock split.
On June 10, 2020, the
Company issued a press release with respect to the reverse stock split, which is being filed as Exhibit 99.1 to this Current Report
on Form 8-K. A copy of the certificate of amendment to the amended and restated certificate of incorporation is being filed as
Exhibit 3.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01
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Financial Statements and Exhibits.
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SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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XPRESSPA GROUP, INC.
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Dated: June 10, 2020
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By:
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/s/ Douglas Satzman
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Name:
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Douglas Satzman
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Title:
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Chief Executive Officer
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