NEWS
LuxUrban Hotels Announces Pricing of Public Offering of Securities
LuxUrban Hotels Inc. (Nasdaq: LUXH) has announced the pricing of its public offering of 11,573,333 shares of common stock at $0.15 per share. The offering, expected to close around July 30, 2024, aims to raise $1,736,000 in gross proceeds, or $1,996,400 if the over-allotment option is fully exercised. Alexander Capital, L.P. is the sole book-running manager for this offering. LuxUrban intends to use the proceeds for working capital and general corporate purposes. The company, which operates hotels through Master Lease Agreements, is strategically building a portfolio in destination cities by capitalizing on commercial real estate market dislocations.
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