Form 8-K

8-K — XWELL, Inc.

Accession: 0001104659-26-117180

Filed: 2026-10-20

Period: 2026-10-07

CIK: 0001410428

SIC: 7200 (SERVICES-PERSONAL SERVICES)

Item: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington,

DC 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):

October 7, 2026

XWELL,

Inc.

(Exact Name of Registrant as Specified in Its

Charter)

Delaware

(State or Other Jurisdiction of Incorporation)

001-34785

20-4988129

(Commission File Number)

(IRS Employer Identification No.)

254

West 31st Street, 11th Floor,

New York, New

York

10001

(Address of Principal Executive Offices)

(Zip Code)

(212)

750-9595

(Registrant’s Telephone Number, Including

Area Code)

(Former Name or Former Address, if Changed Since

Last Report)

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:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the

Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the

Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange

on which registered

Common

Stock, par value $0.01 per share

XWEL

The NASDAQ Stock Market LLC

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 3.01

Notice of Delisting or Failure to

Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On October 7, 2026, XWELL, Inc. (the “Company”)

received a letter (the “Notice”) from the Nasdaq Listing Qualifications staff (the “Staff”) of The Nasdaq Stock

Market LLC (“Nasdaq”) notifying the Company that, based upon the closing bid price of the Company’s common stock for

the 30 consecutive business days from August 25, 2026 through October 6, 2026, the Company is not in compliance with the minimum bid price

requirement for continued listing on The Nasdaq Capital Market as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid

Price Requirement”). Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share.

Under Nasdaq Listing Rule 5810(c)(3)(A), the Company

has been provided a compliance period of 180 calendar days, or until April 5, 2027, to regain compliance with the Minimum Bid Price Requirement.

To regain compliance, the closing bid price of the Company’s common stock must be at least $1.00 per share for a minimum of ten

consecutive business days during the compliance period, unless the Staff exercises its discretion to require a longer period. If the Company

chooses to implement a reverse stock split to regain compliance, it must complete the reverse stock split no later than ten business days

prior to April 5, 2027. In addition, if during the compliance period the closing bid price of the Company’s common stock is $0.10

or less for ten consecutive trading days, Nasdaq will issue a Staff Delisting Determination.

If the Company does not regain compliance by April

5, 2027, the Company may be eligible for an additional 180-calendar-day compliance period, provided that it meets the continued listing

requirement for the market value of publicly held shares and all other applicable initial listing standards for The Nasdaq Capital Market,

other than the bid price requirement, and provides written notice to Nasdaq of its intention to cure the deficiency during the second

compliance period, including, if necessary, by effecting a reverse stock split. If the Company is not eligible for an additional compliance

period or does not regain compliance within the applicable compliance period, Nasdaq will provide notice that the Company’s common

stock will be subject to delisting. Any such delisting determination may be appealed to a Nasdaq Hearings Panel in accordance with applicable

Nasdaq Listing Rules.

The Notice has no immediate effect on the listing

or trading of the Company’s common stock, which will continue to be listed and traded on The Nasdaq Capital Market under the symbol

“XWEL,” subject to the Company’s compliance with the other continued listing requirements of The Nasdaq Capital Market.

The Company intends to actively monitor the closing bid price of its common stock and will consider available options to regain compliance

with the Minimum Bid Price Requirement. There can be no assurance that the Company will regain compliance with the Minimum Bid Price Requirement

within the applicable compliance period.

Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking

statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding

the Company’s compliance with the Nasdaq Listing Rules, the Company’s ability to regain compliance with Nasdaq Listing Rule

5550(a)(2), including through a possible stock split, eligibility for an additional 180 calendar-day compliance period, and the ability

of the Company to cure its deficiency to continue to list its common stock on The Nasdaq Capital Market. These statements are based on

current expectations and assumptions subject to risks and uncertainties beyond the Company’s control, and actual results may differ

materially, including as a result of market conditions, regulatory developments, and macroeconomic factors. A discussion of these and

other factors is set forth in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual

Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company undertakes no obligation

to update any forward-looking statements except as required by law.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits

Exhibit

Number

Description

104

Cover Page Interactive

Data File (formatted as Inline XBRL).

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.

Date:

October 20, 2026

XWELL, Inc.

By:

/s/

Ezra T. Ernst

Name:

Ezra T. Ernst

Title:

President and Chief Executive Officer

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Entity Registrant Name

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Entity Tax Identification Number

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Entity Incorporation, State or Country Code

Entity Address, Address Line One

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Entity Address, Address Line Two

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