false 0001893311 0001893311 2024-06-11 2024-06-11 0001893311 luxh:CommonStock0.00001ParValuePerShareMember 2024-06-11 2024-06-11 0001893311 luxh:SeriesACumulativeRedeemablePreferredMember 2024-06-11 2024-06-11 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): June 11, 2024

 

LuxUrban Hotels Inc.
(Exact Name of Registrant as Specified in Charter)

 

Delaware   001-41473   82-3334945

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

 

212 Biscayne Blvd, Suite 253, Miami, Florida   33137
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (833) 723-7368

 

N/A
(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Ticker symbol(s)   Name of each exchange on which registered
Common Stock, $0.00001 par value per share   LUXH   The Nasdaq Stock Market LLC
13.00% Series A Cumulative Redeemable Preferred Stock, $0.00001 par value per share   LUXHP   The Nasdaq Stock Market LLC

 

 

 

 

 

 

Item 3.01.

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

 

On June 11, 2024, LuxUrban Hotels Inc. (the “Company”) received a notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that, for the prior 30 consecutive business days (through June 10, 2024), the closing bid price of the Company’s Common Stock, $0.00001 par value per share (“common stock”) had been below the minimum of $1 per share required for continued listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). The notification letter stated that the Company would be afforded 180 calendar days (until December 9, 2024) to regain compliance. In order to regain compliance, the closing bid price of the Company’s common stock must be at least $1 for a minimum of ten consecutive business days.

 

The notification letter also stated that, in the event the Company does not regain compliance within the initial 180-day period, the Company may be eligible for an additional 180-day period. If the Company is not eligible for the additional 180-day period, or if it appears to the Nasdaq staff that the Company will not be able to cure the deficiency, the Nasdaq Listing Qualifications Department will provide notice after the end of the initial 180-day period that the Company’s securities will be subject to delisting.

 

The Nasdaq notification has no effect at this time on the listing of the Company’s common stock or 13.00% Series A Cumulative Redeemable Preferred Stock, $0.00001 par value per share, which will continue to trade uninterrupted under the symbol “LUXH” and “LUXHP” respectively. The Company intends to consider all available options to regain compliance with the Nasdaq listing standards.

 

Item 9.01 Financial Statements and Exhibits

 

Exhibit   Description
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

1

 

 

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: June 17, 2024 LUXURBAN HOTELS INC.
   
  By: /s/ Robert Arigo
    Name: Robert Arigo
    Title: Chief Executive Officer

 

2

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Cover
Jun. 11, 2024
Document Type 8-K
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Document Period End Date Jun. 11, 2024
Entity File Number 001-41473
Entity Registrant Name LuxUrban Hotels Inc.
Entity Central Index Key 0001893311
Entity Tax Identification Number 82-3334945
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One 212 Biscayne Blvd
Entity Address, Address Line Two Suite 253
Entity Address, City or Town Miami
Entity Address, State or Province FL
Entity Address, Postal Zip Code 33137
City Area Code (833)
Local Phone Number 723-7368
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company true
Elected Not To Use the Extended Transition Period false
Common Stock 0. 00001 Par Value Per Share [Member]  
Title of 12(b) Security Common Stock, $0.00001 par value per share
Trading Symbol LUXH
Security Exchange Name NASDAQ
Series A Cumulative Redeemable Preferred [Member]  
Title of 12(b) Security 13.00% Series A Cumulative Redeemable Preferred Stock, $0.00001 par value per share
Trading Symbol LUXHP
Security Exchange Name NASDAQ
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