LuxUrban Hotels Inc. Faces Potential Delisting from Nasdaq

LuxUrban Hotels Inc. (NASDAQ: LUXH) recently received a notice from Nasdaq indicating that the company has not regained compliance with Nasdaq Listing Rule 5550(b)(2) within the Compliance Period. The previous notice, dated June 28, 2024, had highlighted that the closing market value of LuxUrban’s Common Stock and 13.00% Series A Cumulative Redeemable Preferred Stock had been below the $35 million minimum required for continued listing on the Nasdaq Capital Market.

LuxUrban Hotels was granted 180 days, ending on December 26, 2024, to rectify this situation, but as of January 3, 2025, compliance had not been achieved. Nasdaq’s most recent notification has requested LuxUrban Hotels to provide written views on the matter by January 10, 2025.

It is important to note that the current notice does not impact the trading of LuxUrban Hotels’ common stock (traded under “LUXH”) or preferred stock (traded under “LUXHP”). The company now intends to prepare and submit the necessary materials addressing this additional deficiency while exploring all available avenues towards regaining compliance with Nasdaq’s listing standards.

In response to the situation, LuxUrban Hotels will be evaluating its strategies and options to address the listing shortfall and uphold its trading presence on the Nasdaq Capital Market.

No further financial information or reports were provided in the recent 8-K filing by LuxUrban Hotels Inc. Investors and stakeholders should stay tuned for updates on this developing matter.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read LuxUrban Hotels’s 8K filing here.

LuxUrban Hotels Company Profile

LuxUrban Hotels Inc utilizes an asset light business model to lease entire hotels on a long-term basis and rent out hotel rooms in the properties it leases. It manages a portfolio of hotel rooms in New York, Washington DC, Miami Beach, New Orleans, and Los Angeles. The company was formerly known as CorpHousing Group Inc and changed its name to LuxUrban Hotels Inc in November 2022.