LuxUrban Hotels Inc. Announces Reverse Stock Split and Nasdaq Compliance Approval
LuxUrban Hotels Inc. (LUXH)
Company Research
Source: GlobeNewswire
MIAMI, Nov. 15, 2024 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. (Nasdaq: LUXH), a hospitality company that leases entire hotels on a long-term basis, manages these hotels, and rents out rooms to guests in the properties it leases, today announced that it will effectuate a one-for-seventy (1:70) reverse stock split of its common stock. This reverse stock split was approved by stockholders at the special meeting held on November 12, 2024, and will be effective at the opening of trading on November 20, 2024. The reverse stock split is part of LuxUrban Hotels’ strategy to strengthen its position within the Nasdaq Capital Markets, improve the stock's trading profile, and position the company for future growth and expansion opportunities. Following the reverse split, the number of shares of common stock issued and outstanding will be reduced from approximately 151.85 million to approximately 2.17 million shares. In addition, stockholders approved a proposal to waive the 19.99% share limit
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LUXH
Earnings
- 5/13/24 - Miss
LUXH
Sec Filings
- 11/4/24 - Form 8-K
- 11/1/24 - Form 8-K
- 10/31/24 - Form SCHEDULE
- LUXH's page on the SEC website