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.
For detailed information about LUXH stock, go to TipRanks’ Stock Analysis page.