secwatch.observer — SEC 8-K summary
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Issuer:     LUXURBAN HOTELS INC. (—)
CIK:        0001893311
Form:       8-K
Filed at:   2024-06-28T23:59:59+00:00
Accession:  0001829126-24-004488
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1893311/000182912624004488/0001829126-24-004488-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1893311/000182912624004488/luxurban_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-24-004488

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer