NEWS
LuxUrban Hotels Announces Pricing of Public Offering of Securities
LuxUrban Hotels has announced the pricing of a public offering for its common stock. The offering includes 30,000,000 shares priced at $0.17 per share, with an option for underwriters to purchase an additional 4,500,000 shares.
The gross proceeds are expected to be $5.1 million, or $5.865 million if the over-allotment is exercised. The offering is set to close around July 15, 2024, contingent on standard closing conditions. Alexander Capital, L.P. is the sole manager of the offering.
LuxUrban plans to use the proceeds for working capital and general corporate purposes. The offering is under a shelf registration statement declared effective on May 8, 2024. Documents related to the offering are available through the SEC's website.
The gross proceeds are expected to be $5.1 million, or $5.865 million if the over-allotment is exercised. The offering is set to close around July 15, 2024, contingent on standard closing conditions. Alexander Capital, L.P. is the sole manager of the offering.
LuxUrban plans to use the proceeds for working capital and general corporate purposes. The offering is under a shelf registration statement declared effective on May 8, 2024. Documents related to the offering are available through the SEC's website.
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