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    LuxUrban Hotels Inc. filed SEC Form 8-K: Financial Statements and Exhibits

    4/17/25 9:03:09 AM ET
    $LUXH
    Real Estate
    Finance
    Get the next $LUXH alert in real time by email
    false 0001893311 0001893311 2025-04-11 2025-04-11 0001893311 luxh:CommonStock0.00001ParValuePerShareMember 2025-04-11 2025-04-11 0001893311 luxh:SeriesACumulativeRedeemablePreferredMember 2025-04-11 2025-04-11 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

     

     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    WASHINGTON, D.C. 20549

     

    FORM 8-K

     

    CURRENT REPORT

    PURSUANT TO SECTION 13 OR 15(d) OF THE

    SECURITIES EXCHANGE ACT OF 1934

     

    Date of Report (Date of earliest event reported): April 11, 2025

     

    LuxUrban Hotels Inc.

    (Exact Name of Registrant as Specified in Charter)

     

    Delaware   001-41473   82-3334945

    (State or Other Jurisdiction

    of Incorporation)

     

    (Commission

    File Number)

     

    (IRS Employer

    Identification No.)

     

    71 W 35th Street, New York, NY 10001   10001
    (Address of Principal Executive Offices)   (Zip Code)

     

    Registrant’s telephone number, including area code: (833) 723-7368

     

    212 Biscayne Blvd, Suite 253, Miami, Florida 33137

    (Former Name or Former Address, if Changed Since Last Report)

     

    Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below):

     

    ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

     

    ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     

    ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     

    ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c))

     

    Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

     

    Emerging growth company ☒

     

    If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

     

    Securities registered pursuant to Section 12(b) of the Act:

     

    Title of each class   Ticker symbol(s)   Name of each exchange on which registered
    Common Stock, $0.00001 par value per share   LUXH   OTC
    13.00% Series A Cumulative Redeemable Preferred Stock, $0.00001 par value per share   LUXHP   OTC

     

     

     

       

     

     

    Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

     

    On April 11, 2025, LuxUrban Hotels Inc. (the “Company”) entered into a mutual termination and settlement agreement (the “Agreement”) with Robert Arigo, the Company’s Chief Operating Officer, pursuant to which Mr. Arigo’s employment with the Company terminated by mutual agreement without cause. . The Company thanks Mr. Arigo for his hard work and significant contributions during his tenure. 

     

    Pursuant to the terms of the Agreement, Mr. Arigo will be entitled to (i) severance payments in the aggregate amount of $50,000, to be paid in ten equal weekly instalments of $5,000, and (ii) the repayment of an outstanding promissory note, of the Company in the amount of $67,847.78 by April 18, 2025.

     

    Mr. Arigo has also agreed to continue assisting the Company as an independent contractor with its audit of certain Company vendors (the “Audit). In the event that the Company is able to recover any monetary value as a result of the Audit, Mr. Arigo will be entitled to fifty percent (50%) of the net proceeds, as defined in the agreement, of such recovery.

     

    The Agreement contains other customary provisions, including a general release by Mr. Arigo of any claims against the Company and certain other related parties, and by the Company of any claims against Mr. Arigo, continuing indemnification by the Company of Mr. Arigo for his acts or omissions during the course of his employment, and confidentiality terms.

     

    On April 15, 2025, Brian Ferdinand, Interim Chief Executive Officer and Chairman of the Company, informed the Board of Directors that, effective April 15, 2025, Mr. Ferdinand would voluntarily forego all future salary and Company provided benefits in order to help further reduce the Company’s operating expenses.

     

    Item 9.01 Financial Statements and Exhibits

     

    Exhibit   Description
    104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

     

     1 

     

     

    SIGNATURE

     

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

     

    Dated: April 17, 2025 LUXURBAN HOTELS INC.
           
      By: /s/ Michael James
        Name: Michael James
        Title: Chief Financial Officer

     

     2 
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