Luxurban hotels closes first tranche of private placement of senior secured convertible notes due 2027 and common stock purchase warrants

Miami, aug. 13, 2024 (globe newswire) -- luxurban hotels inc. (“luxurban” or the “company”) (nasdaq: luxh), which secures long-term operating rights for entire hotels through master lease agreements (mla) under which it manages the hotel and rents out, on a short-term basis, rooms to business and vacation travelers, today announced that it has closed the first tranche of a private offering (the “notes offering”) to sell up to $10 million aggregate principal amount of new senior secured convertible notes due 2027 (the "notes") and common stock purchase warrants (“note warrants”) in one or more closings through august 30, 2024.
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