The company completed a series of transformational changes to usher in the next stage of growth and evolution – a project named Lux 2.0. This project creates an operational framework focused on evolving a unique lodging and hospitality model into a sustainable profitable platform business. Robert Arigo, CEO of LuxUrban Hotels Inc., stated, "We are pleased with the significant progress our new team has made in a relatively short time. Our platform is truly transformative for the hotel industry. Our room rate ...

The Company intends to use the proceeds from the offering for working capital and other general corporate purposes. A preliminary prospectus supplement and a final prospectus supplement have been filed with the SEC. Copies of the preliminary prospective supplement and final prospectus may be obtained Alexander Capital, L.P., 10 Drs James Parker Boulevard #202, Red Bank, New Jersey 07701 Attention: Equity Capital Markets, Phone: (212) 687-5650, Email: info@alexandercapitallp.com or by accessing the SEC's web ...

The gross proceeds from the offering, before deducting the underwriters' fees and other offering expenses payable by the Company, are expected to be $5,100,000, or $5,865,000 if the over-allotment option is exercised in full. The Company intends to use the proceeds from the offering for working capital and other general corporate purposes. A preliminary prospectus supplement has been filed, and a final prospectus supplement will be filed, with the SEC and, when available, copies of the preliminary and final ...

MIAMI, July 11, 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 the pricing of its previously announced public offering of 30,000,000 shares of common stock at a price of $0.17 per share. The underwriters also were granted an over-allotment op ...

MIAMI, July 11, 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 the launch of a proposed follow-on public offering of shares of its common stock and pre-funded warrants to purchase shares of common stock. Alexander Capital, L.P. is acting as ...

All of the shares of common stock and pre-funded warrants are being offered by the Company pursuant to a shelf registration statement on Form S-3 (No. 333-278883) (the "Registration Statement") filed with the Securities and Exchange Commission ("SEC") and declared effective on May 8, 2024 and which is available through the SEC's website at www.sec.gov. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering will be completed, or as to the actu ...

MIAMI, June 27, 2024 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. ("LuxUrban" or the "Company") (Nasdaq: LUXH), a hospitality company which leases entire existing hotels on a long-term basis and rents rooms in its hotels to business and vacation travelers, today announced the appointment of Patrick McNamee as an independent member of the Company's Board of Directors ("Board"), effective June 27, 2024. The Company also announced that Brian Ferdinand has resigned from the Board. Mr. McNamee is a seasoned and acco ...

MIAMI, June 27, 2024 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. ("LuxUrban" or the "Company") (Nasdaq: LUXH), a hospitality company which leases entire existing hotels on a long-term basis and rents rooms in its hotels to business and vacation travelers, today announced the appointment of Patrick McNamee as an independent member of the Company's Board of Directors ("Board"), effective June 27, 2024. The Company also announced that Brian Ferdinand has resigned from the Board. "Patrick brings a wealth of operat ...

MIAMI, June 18, 2024 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. ("LuxUrban" or the "Company") (Nasdaq: LUXH), a hospitality company which leases entire existing hotels on a long-term basis and rents rooms in its hotels to business and vacation travelers, today issued a Letter to Shareholders from Chief Executive Officer Robert Arigo. Dear Fellow Shareholder: When I joined LuxUrban as Chief Operating Officer earlier this year, I did so in the belief that we operate one of the most innovative business models in ...

Over the last several months we have added more than 100 years of relevant industry, operating, and public company experience at the executive and Board levels. This includes Non-Executive Chairman Elan Blutinger, and independent board members Kim Schaefer and Alex Lombardo. At the executive level, we appointed Mike James, a 40-year-old public company and investment executive, to the position of Chief Financial Officer. We have also hired professionals in areas such as revenue management and property operat ...