Luxurban hotels announces closing of series a cumulative redeemable preferred stock offering

Miami--(business wire)--luxurban hotels inc. (or the “company”) (nasdaq: luxh), which utilizes an asset-light business model to lease entire hotels on a long-term basis and rent out hotel rooms in these properties in key major metropolitan cities, announced today the closing of an underwritten public offering of its 13.00% series a cumulative redeemable preferred stock (the “series a preferred stock”). the company sold an initial 280,000 shares of series a preferred stock with a liquidation pre.
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