---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-23-007529"
form_type: "8-K"
ticker: null
cik: "0001893311"
company_name: "LUXURBAN HOTELS INC."
filed_at: "2023-11-17T23:59:59+00:00"
generated_at: "2026-06-08T00:29:32.669991+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# LuxUrban Hotels secures up to $10M non-dilutive note from Chairman/Co-CEO at 1% interest

## Summary
- Unsecured advancing term promissory note of up to $10 million from THA Holdings LLC (Brian Ferdinand, Chairman/Co-CEO and largest stockholder).
- Note bears 1% annual interest, matures November 16, 2026; prepayable at Company’s option with Board approval, no penalty.
- Funded via sales of common stock owned by Ferdinand under Rule 144 or other exemptions; proceeds less taxes fund the note.
- Proceeds used for growth capital: leasing additional hotel units and building density in existing markets.
- Company reiterates Note is not required to achieve previously issued 2023 and 2024 guidance on net rental revenue, EBITDA, hotel rooms.

## SEC filing metadata
- accession: 0001829126-23-007529
- form_type: 8-K
- cik: 0001893311
- company_name: LUXURBAN HOTELS INC.
- filed_at: 2023-11-17T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1893311/000182912623007529/0001829126-23-007529-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1893311/000182912623007529/luxurbanhotels_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-23-007529
- JSON: https://secwatch.observer/filing/0001829126-23-007529.json
- Plain text: https://secwatch.observer/filing/0001829126-23-007529.txt

## Key facts
- Debt Financings
  LUXURBAN HOTELS INC. incurred term loan of up to an aggregate principal amount of $10,000,000 with THA Holdings LLC at 1% per annum maturing November 16, 2026.
  - Instrument: term loan
  - Principal: up to an aggregate principal amount of $10,000,000
  - Counterparty: THA Holdings LLC
  - Rate: 1% per annum
  - Maturity: November 16, 2026
  - Event: incurrence
  source text: advancing term promissory note (the “Note”). Under the Note, the Company is able to borrow, and the Lender has committed to lend, up to an aggregate principal amount of $10,000,000 (the “Initial Principal Amount”) to be funded in increments of $1,000,000 upon the Company’s request by the sale, from time to time, of shares of the Company’s common stock, par
  evidence_url: https://www.sec.gov/Archives/edgar/data/1893311/000182912623007529/0001829126-23-007529-index.htm
- Material Agreements
  LUXURBAN HOTELS INC. entered into Note with THA Holdings LLC valued at up to an aggregate principal amount of $10,000,000 (effective 2023-11-17).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: THA Holdings LLC
  - Value: up to an aggregate principal amount of $10,000,000
  - Effective: 2023-11-17
  source text: On November 17, 2023, LuxUrban Hotels Inc. (the “Company” or “we” and related pronouns), entered into a non-dilutive financing agreement with THA Holdings LLC, an entity controlled and operated by the Company’s Chairman, Co-Chief Executive Officer (“Co-CEO”) and largest stockholder, Brian Ferdinand (the “Lender”), pursuant to which the Company agreed to issue to the Lender an unsecured, advancing term promissory note (the “Note”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1893311/000182912623007529/0001829126-23-007529-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.