LuxUrban Hotels Launches Shares Offering and Senior Notes Sale

An update from LuxUrban Hotels (LUXH) is now available.

LuxUrban Hotels Inc. has initiated a public offering of over 11.5 million common shares and up to an additional 1.7 million shares if an over-allotment option is exercised, at $0.15 per share. The company anticipates net proceeds of about $1.6 million, or $1.8 million with the option exercised, after deducting discounts and expenses. Separately, they’ve also proposed a private sale of $5 million in senior notes, which may convert into preferred stock, aiming to raise roughly $4.425 million for corporate purposes. Both moves are strategic efforts to bolster the company’s financial standing and support its growth.

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