LuxUrban Hotels Inc. filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Financial Statements and Exhibits
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| Item 3.01. | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
As previously disclosed, on June 28, 2024, LuxUrban Hotels Inc. (the “Company”) received a notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that, for the prior 30 consecutive business days (through June 27, 2024), the closing market value of listed securities (MVLS) of the Company’s Common Stock, $0.00001 par value per share (“common stock”) and 13.00% Series A Cumulative Redeemable Preferred Stock, $0.00001 par value per share (“preferred stock”, and collectively with the common stock the “securities”) had been below the minimum of $35 million required for continued listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(2). The notice stated that the Company would be afforded 180 calendar days (until December 26, 2024) (the “Compliance Period”) to regain compliance.
On January 3, 2024, the Company received a notice from Nasdaq indicating that it has not regained compliance with Nasdaq Listing Rule 5550(b)(2) within the Compliance Period. The notice further requests that the Company submit its written views regarding this additional deficiency to the Nasdaq no later than January 10, 2025.
The notice has no effect at this time on the listing of the Company’s common stock or preferred stock, which will continue to trade uninterrupted under the symbol “LUXH” and “LUXHP” respectively. The Company intends to submit the required materials addressing this additional deficiency and will evaluate all available options to regain compliance with Nasdaq's listing standards.
| Item 9.01. | Financial Statements and Exhibits |
| Exhibit | Description | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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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: | January 6, 2025 | LUXURBAN HOTELS INC. | ||
| By: | /s/ Michael James | |||
| Name: | Michael James | |||
| Title: | Chief Financial Officer | |||
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