On June 17, 2024, CPC Pain & Wellness SPV, LLC announced that it is concerned with XWELL, Inc.?s long-term underperformance and believe shareholder representation on the Board of Directors of the Company and a change in the composition of the Board is necessary to drive significant improvements to the Company?s governance, capital allocation and operations, and to explore strategic alternatives. CPC Pain & Wellness SPV expressed its view that there are significant growth opportunities at the Company and remains available and ready to engage directly with the Board and management to discuss such opportunities.