LuxUrban Hotels Inc. announces a one-for-seventy reverse stock split to boost its position on Nasdaq.

From GlobeNewswire: 2024-11-15 16:30:00

LuxUrban Hotels Inc. (Nasdaq: LUXH) announced a one-for-seventy reverse stock split of its common stock to strengthen its position on the Nasdaq Capital Markets. The split, effective November 20, 2024, will reduce shares outstanding from 151.85 million to 2.17 million. Stockholders also approved waiving the 19.99% share limitation, allowing for more flexibility in financing. LuxUrban aims to enhance shareholder value and become a leader in the urban lodging market. For more details, refer to the company’s definitive proxy statement and related 8-K filing. Contact management for further information at (833) 723-7368.



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