Davis Polk advised Calm.com, Inc. in connection with its investment in convertible notes and common stock warrants of XpresSpa Group, Inc. Concurrent with the investment, Calm amended its recent collaboration agreement with XpresSpa to extend and expand the collaboration – under which Calm offers its flagship products at XpresSpa locations in major airport hubs across the country – to include XpresSpa’s international portfolio and testing an expanded Calm brick-and-mortar experience at select domestic XpresSpa locations.
Headquartered in San Francisco, Calm is a leading global health and wellness brand with the #1 app for sleep, meditation and relaxation. Calm is on a mission to make the world happier and healthier. With hundreds of hours of original audio content, the Calm app helps users cope with some of the most important mental health issues of the modern age including anxiety, stress and insomnia. XpresSpa is a health and wellness holding company, and its assets include the world’s largest airport spa company, with 55 locations in 23 airports globally.
The Davis Polk corporate team included partner Alan F. Denenberg and associates Donald K. Lang and Ali DeGolia. Partner Pritesh P. Shah and associate Michael V. Policastro provided intellectual property and technology advice. Members of the Davis Polk team are based in the Northern California and New York offices.