Reported Friday, LuxUrban Hotels Prices Its ~$1.74M Public Offering Of 11,573,333 Common Shares At $0.15/Share
Portfolio Pulse from Benzinga Newsdesk
LuxUrban Hotels has announced the pricing of its public offering of approximately $1.74 million, consisting of 11,573,333 common shares at $0.15 per share.
July 29, 2024 | 5:48 am
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LuxUrban Hotels has priced its public offering of approximately $1.74 million, issuing 11,573,333 common shares at $0.15 per share. This could lead to short-term downward pressure on the stock price due to dilution.
The issuance of new shares at a low price of $0.15 each is likely to dilute the value of existing shares, leading to potential short-term downward pressure on the stock price.
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