LuxUrban Hotels Closes First Tranche of Private Placement of Senior Secured Convertible Notes Due 2027 and Common Stock Purchase Warrants
LuxUrban Hotels Inc. (LUXH)
Company Research
Source: GlobeNewswire
MIAMI, Aug. 13, 2024 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. (“LuxUrban” or the “Company”) (Nasdaq: LUXH), which secures long-term operating rights for entire hotels through Master Lease Agreements (MLA) under which it manages the hotel and rents out, on a short-term basis, rooms to business and vacation travelers, today announced that it has closed the first tranche of a private offering (the “Notes Offering”) to sell up to $10 million aggregate principal amount of new senior secured convertible notes due 2027 (the "Notes") and common stock purchase warrants (“Note Warrants”) in one or more closings through August 30, 2024. The first tranche closing occurred on August 13, 2024 and generated gross cash proceeds of $2.1 million. The Company intends to use the net cash proceeds from the Notes Offering for working capital and other general corporate purposes. Among these corporate purposes is the continued advancement of Lux 2.0, the Company’s previously announced series of initiat
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LUXH
News
- LuxUrban Hotels Inc. Reports Second Quarter 2024 Financial ResultsGlobeNewswire
- LuxUrban Hotels to Host Webcast to Review the Financial Results for the Second Quarter of 2024GlobeNewswire
- LuxUrban Hotels Inc. Receives Nasdaq Listing Deficiency NoticeGlobeNewswire
- LuxUrban Hotels Announces Agreement in Principle to Issue Up to $5.0 Million Senior Notes Due 2027 [Yahoo! Finance]Yahoo! Finance
- LuxUrban Hotels Announces Agreement in Principle to Issue Up to $5.0 Million Senior Notes Due 2027GlobeNewswire
LUXH
Earnings
- 5/13/24 - Miss
LUXH
Sec Filings
- 9/27/24 - Form PRE
- 9/26/24 - Form 8-K
- 9/25/24 - Form 10-Q
- LUXH's page on the SEC website