UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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| Title of each class | Ticker symbol(s) | Name of each exchange on which registered | ||
| The Stock Market LLC | ||||
| The |
| Item 8.01. | Other Events. |
As previously disclosed, on July 11, 2024, LuxUrban Hotels Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Alexander Capital Partners, L.P., as representative of the underwriters, relating to, among other things, the sale to the public (the “Offering”) of (i) 30,000,000 shares (the “Firm Shares”) of the Company’s common stock, $0.00001 par value per share (“Common Stock”), and (ii) up to 4,500,000 shares of Common Stock which may be issued by the Company upon the exercise of an over-allotment option granted to the underwriters pursuant to the Underwriting Agreement (the “Option Shares”, and together with the Firm Shares, the “Shares”). On July 15, 2024, the Company completed sale and issuance of the Firm Shares.
On July 17, 2024, the underwriters notified the Company of their full exercise of their over-allotment option, to purchase 4,500,000 Option Shares. On July 18, 2024, the Company completed the sale and issuance of the Option Shares. On July 18, 2024, the Company issued a press release announcing the full exercise of the overallotment option and a press release announcing significant insider participation in the Offering. The press releases are attached to this Current Report as Exhibit 99.1 and Exhibit 99.2, respectively.
After giving effect to the full exercise of the over-allotment option, the Company sold 34,500,000 shares of Common Stock for aggregate gross proceeds of $5,865,000 in the Offering, before underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use the proceeds from the Offering for working capital and other general corporate purposes.
Alexander Capital, L.P. acted as sole book-running manager for the Offering.
| Item 9.01. | Financial Statement and Exhibits. |
| (d) | Exhibits: |
| Exhibit | Description | |
| 99.1 | Press Release Announcing Exercise of Underwriter Overallotment Option | |
| 99.2 | Press Release Announcing Insider Participation in the Offering |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: July 18, 2024 | LUXURBAN HOTELS INC. | ||
| By: | /s/ Robert Arigo | ||
| Name: | Robert Arigo | ||
| Title: | Chief Executive Officer | ||
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