LuxUrban raises $2M in private placement at $0.25/sh; appoints Patrick McNamee to board

LUXURBAN HOTELS INC.

Gross proceeds of $2M from sale of 8M shares at $0.25/sh to an existing shareholder; net $1.86M after fees.
Purchaser has option to buy up to 8M additional shares at $0.25/sh (subject to price adjustments) within 6-18 months.
Patrick McNamee appointed as independent director effective June 27, 2024; will chair Compensation Committee.
Founder and former CEO Brian Ferdinand resigned from board effective June 26, 2024.
Board now has 7 members, all independent under Nasdaq rules.

item 1.01 item 3.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Patrick McNamee

director

LUXURBAN HOTELS INC.

Effective: 2024-06-27
Filed: June 28, 2024, 7:59 PM ET

Effective June 27, 2024, Patrick McNamee joined our board of directors and will also serve on the board’s compensation committee, as its chairman, and on the board’s nominating committee.

Departed

Brian L, Ferdinand

director

LUXURBAN HOTELS INC.

Effective: 2024-06-26
Filed: June 28, 2024, 7:59 PM ET

Effective June 26, 2024, Brian L, Ferdinand, our company’s founder, and our former chairman of the board and chief executive officer, resigned as a member of the board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Patrick McNamee was appointed as director at LUXURBAN HOTELS INC..

Action: appointed
Role: director

Exact text from the filing

Effective June 27, 2024, Patrick McNamee joined our board of directors and will also serve on the board’s compensation committee, as its chairman, and on the board’s nominating committee.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Brian L, Ferdinand resigned as director at LUXURBAN HOTELS INC..

Action: resigned
Role: director

Exact text from the filing

Effective June 26, 2024, Brian L, Ferdinand, our company’s founder, and our former chairman of the board and chief executive officer, resigned as a member of the board.

View on SEC.gov

Source: SEC EDGAR

accession 0001829126-24-004488

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.