false 0001893311 0001893311 2025-01-03 2025-01-03 0001893311 luxh:CommonStock0.00001ParValuePerShareMember 2025-01-03 2025-01-03 0001893311 luxh:SeriesACumulativeRedeemablePreferredMember 2025-01-03 2025-01-03 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): January 3, 2025

 

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.

 

As previously disclosed, on June 28, 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 27, 2024), the closing market value of listed securities (MVLS) of the Company’s Common Stock, $0.00001 par value per share (“common stock”) and 13.00% Series A Cumulative Redeemable Preferred Stock, $0.00001 par value per share (“preferred stock”, and collectively with the common stock the “securities”) had been below the minimum of $35 million required for continued listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(2). The notice stated that the Company would be afforded 180 calendar days (until December 26, 2024) (the “Compliance Period”) to regain compliance.

 

On January 3, 2024, the Company received a notice from Nasdaq indicating that it has not regained compliance with Nasdaq Listing Rule 5550(b)(2) within the Compliance Period. The notice further requests that the Company submit its written views regarding this additional deficiency to the Nasdaq no later than January 10, 2025.

 

The notice has no effect at this time on the listing of the Company’s common stock or preferred stock, which will continue to trade uninterrupted under the symbol “LUXH” and “LUXHP” respectively. The Company intends to submit the required materials addressing this additional deficiency and will evaluate all available options to regain compliance with Nasdaq's 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: January 6, 2025LUXURBAN HOTELS INC.
     
  By:/s/ Michael James
    Name: Michael James
    Title: Chief Financial Officer

 

2

 

v3.24.4
Cover
Jan. 03, 2025
Document Type 8-K
Amendment Flag false
Document Period End Date Jan. 03, 2025
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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