LuxUrban Hotels Files Prospectus To Sell Up To 23.63M Shares Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
LuxUrban Hotels has filed a prospectus for the resale of up to 23.63 million shares of its common stock by selling stockholders. The company will not receive any proceeds from these sales.
October 09, 2024 | 12:14 pm
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LuxUrban Hotels has filed a prospectus for the resale of up to 23.63 million shares of its common stock by selling stockholders. The company will not receive any proceeds from these sales.
The filing of a prospectus for the resale of a large number of shares by selling stockholders could lead to increased supply in the market, potentially putting downward pressure on the stock price. Since LuxUrban Hotels will not receive any proceeds, there is no direct financial benefit to the company from this action.
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