NEW YORK - April 18, 2017 - FORM Holdings Corp. (NASDAQ: FH), a diversified holding company, today announced that the company's CEO Andrew Perlman, was interviewed on Bloomberg Radio's "Bloomberg Markets" by hosts Pimm Fox and Lisa Abramowicz on ...
NEW YORK - April 18, 2017 - FORM Holdings Corp. (NASDAQ: FH), a diversified holding company, today announced that the company's CEO Andrew Perlman, was interviewed on Bloomberg Radio's "Bloomberg Markets" by hosts Pimm Fox and Lisa Abramowicz on Monday, April 17th at 11:30 AM ET.
In the interview, Mr. Perlman discussed XpresSpa's unique value proposition to its customers and the company's continued expansion throughout airports as key component of FORM Holdings' plans to accelerate its growth in the retail travel, health, and wellness industry.
The interview can be found at the following link: https://www.bloomberg.com/news/audio/2017-04-17/xpressspa-s-perlman-unlike-malls-airport-retail-is-rising
XpresSpa, FORM's largest operating segment, is the leading airport spa company in the world. XpresSpa has approximately 50% market share in the United States as measured by number of airport spas. It provides premium health and wellness services through its 49 locations within 20 of the largest and most desirable airport hubs in the United States, as well as four locations in two airports in Amsterdam and Dubai. XpresSpa generated annual revenues in 2016 of $43.8 million.
Counter to the instability of traditional retail, which has been exacerbated by shifting shopping preferences and the proliferation of e-commerce offerings, the airport retail market continues to grow due to increased travel security and screening requirements that are creating a captive environment within airport terminals globally. In response to these changes, airport consumers are demanding greater access to innovative and upscale retail, food, and services options. The North American airport retail market is on pace to grow at a 19% compound annual growth rate to $9.9 billion annually in 2020, according to New Market Research & Micro Market Monitor. XpresSpa's flexible operating model with compelling store economics is a perfect partner for airport operators looking to stay on trend with the powerful health and wellness movement.
About FORM Holdings Corp.
This press release includes forward-looking statements, which may be identified by words such as "believes," "expects," "anticipates," "estimates," "projects," "intends," "should," "seeks," "future," "continue," or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein. Statements in this press release regarding the proposed merger between FORM and XpresSpa; the expected timetable for completing the transaction; the potential value created by the proposed merger for FORM's stockholders and XpresSpa's equity holders; the potential of FORM's business after completion of the merger; XpresSpa's projected revenue, the ability to raise capital to fund operations and business plan; the continued listing of FORM's securities on the Nasdaq Capital Market; the potential impact on FORM's common stock if FORM determines to repay the preferred stock to be issued in connection with the proposed merger in stock rather than cash; market acceptance of FORM products; the collective ability to protect intellectual property rights; competition from other providers and products; FORM's management and board of directors after completion of the Merger; and any other statements about FORM's or XpresSpa's management teams' future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: the risk that FORM and XpresSpa may not be able to complete the proposed transaction; the inability to realize the potential value created by the proposed merger for FORM's stockholders; FORM's inability to maintain the listing of its securities on the Nasdaq Capital Market after completion of the merger; the potential lack of market acceptance of FORM's products; FORM's inability to monetize and recoup FORM's investment with respect to assets and other businesses that that were acquired or will be acquired in the future; general economic conditions and level of information technology and consumer electronics spending; unexpected trends in the mobile phone and telecom computing industries; the potential loss of one or more of FORM's significant Original Equipment Manufacturer ("OEM") suppliers, the potential lack of market acceptance of FORM's products; market acceptance, quality, pricing, availability and useful life of FORM's products and services, as well as the mix of FORM's products and services sold; potential competition from other providers and products; FORM's inability to license and monetize FORM's patents, including the outcome of litigation; FORM's inability to develop and introduce new products and/or develop new intellectual property; FORM's inability to protect FORM's intellectual property rights; new legislation, regulations or court rulings related to enforcing patents, that could harm FORM's business and operating results; FORM's inability to retain key members of its management team; and other risks and uncertainties and other factors discussed from time to time in our filings with the Securities and Exchange Commission ("SEC"), including FORM's Annual Report on Form 10-K for the year ended December 31, 2016 filed with the SEC on March 30, 2017. Investors and stockholders are also urged to read the risk factors set forth in the proxy statement/prospectus carefully when they are available. FORM expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: FORM Holdings Corp. via Globenewswire
Source(s) : FORM Holdings Corp.
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