Corphousing group inc. announces closing of $13.5 million initial public offering

Miami, fl, aug. 16, 2022 (globe newswire) -- corphousing group inc. (“corphousing” or the “company”) (nasdaq: chg), an american company engaged in acquiring entire portfolios of rooms in hotels in major metropolitan cities, through a unique long-term lease, asset-light model, then leveraging advanced technology through dozens of global sales and distribution channels, i.e., on-line travel agents, to rent the rooms, today announced the closing of its previously announced initial public offering of 3,375,000 shares of its common stock at a public offering price of $4.00 per share, for gross proceeds of approximately $13.5 million, before deducting underwriting discounts and offering expenses. in addition, corphousing has granted the underwriters a 45-day option to purchase up to an additional 506,250 shares of common stock to cover over-allotments at the initial public offering price, less the underwriting discount.
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