LuxUrban Hotels Launches Proposed Public Offering; No Size Or Amount Disclosed
Portfolio Pulse from Benzinga Newsdesk
LuxUrban Hotels Inc. (NASDAQ:LUXH) has announced a proposed follow-on public offering of its common stock. The company has not disclosed the size or amount of the offering. Additionally, LuxUrban intends to grant underwriters a 45-day option to purchase up to an additional 15% of the shares sold in the offering.
July 26, 2024 | 8:02 pm
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LuxUrban Hotels Inc. has announced a proposed follow-on public offering of its common stock, with no size or amount disclosed. The company also plans to grant underwriters a 45-day option to purchase up to an additional 15% of the shares sold.
The announcement of a follow-on public offering typically leads to a short-term decrease in stock price due to potential dilution of existing shares. The lack of disclosed size or amount adds uncertainty, which may further pressure the stock.
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