American Ventures, a special purpose vehicle managed by Trump Tower-based broker Dominari Securities, agreed in late February to purchase $31.3 million of convertible preferred shares in XWell. At the time, XWell carried a market capitalisation of under $3 million.
The 31,333 preferred shares were priced at $1,000 each, convertible into 66.6 million common shares at an initial conversion price of $0.47, according to securities filings.
AI Screening At Scale
The investment closed three weeks after XWell partnered with AI predictive analysis start-up PieQ. The two companies plan to deploy what they describe as a “next generation intelligence layer” to manage anticipated travel surges around major international events, beginning with the World Cup.
Through subsidiaries, XWell provides voluntary diagnostic tests to incoming international travelers, funded in part through U.S. government contract awards. The company also operates 25 XpresSpa outlets across airports in the U.S., the UAE and Turkey, alongside a waxing salon chain in southwest Florida.
XWell reported a net loss of $17 million in 2025 on revenue of $29.2 million.
Trump Ties Under Scrutiny
It was not immediately clear whether Eric Trump or Donald Trump Jr. personally invested in XWell, though a person familiar with the matter said the Trumps were involved in “most” American Ventures deals. Neither responded to requests for comment. Dominari declined to comment.
Benzinga’s Edge Stock Rankings indicate that XWEL has a positive price trend across all time frames.
Disclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.
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