Form 8-K - Current report
2024年8月24日 - 5:45AM
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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): August 20, 2024
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.) |
212 Biscayne Blvd, Suite 253, Miami, Florida |
|
33137 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone
number, including area code: (833) 723-7368
N/A |
(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 |
|
The Nasdaq Stock Market LLC |
13.00% Series A Cumulative Redeemable Preferred Stock, $0.00001 par value per share |
|
LUXHP |
|
The Nasdaq Stock Market LLC |
Item 3.01. Notice of Delisting or
Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
August 20, 2024, LuxUrban Hotels Inc. (the “Company”) received a written
notice (the “Notice”) from the staff of the listing qualifications
department (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”)
indicating that the Company was not in compliance with Listing Rule 5250(c)(1) of Nasdaq’s continued listing standards because
the Company did not timely file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 (the “Quarterly
Report”, such noncompliance with Listing Rule 5250(c)(1) the “Filing
Delinquency”). The Notice stated that under Nasdaq rules, the Company has 60 calendar days (or until Monday, October
21, 2024) to submit a plan to regain compliance. If Nasdaq accepts the Company’s plan, Nasdaq can grant an exception of up to
180 calendar days from the Quarterly Report’s original due date, which 180 day period would end on February 18, 2025, to
regain compliance. The Company can regain compliance with Nasdaq’s continued listing standards at any time before such dates
by filing the Quarterly Report with the SEC and any other subsequent reports that are required to be filed during the cure
period.
On
August 23, 2024, the Company received a determination letter (the “Letter”)
from of the Staff, indicating that in light of the Company’s bid price deficiency under to Nasdaq Listing Rule 5550(a)(2), as previously
disclosed by the Company in the Current Report on Form 8-K filed with the SEC on June 17, 2024, and the Staff’s determination that,
as of August 22, 2024, the Company’s common stock had a closing bid price of $0.10 or less for ten consecutive trading days and
therefore the Company is subject to the provisions contemplated under Listing Rule 5810(c)(3)(A)(iii) (the “Low
Priced Stocks Rule”), the Staff has determined to delist the Company’s securities from The Nasdaq Capital Market (the
“Determination”), and that the Company may appeal the Determination to a Nasdaq
hearings panel (“Hearing Panel”) pursuant to the procedures set forth in the
Nasdaq Listing Rule 5800 Series.
The
Letter further noted that, in light of the Determination, the Filing Delinquency now becomes an additional basis for delisting pursuant
to Listing Rule 5810(d)(2), and, as such, the Company should address this concern before a Hearings Panel if it appeals the Staff’s
determination, rather than proceeding as stated in the Notice.
The
Letter stated that unless the Company requests an appeal of the Determination by August 30, 2024, trading of the Company’s common
stock and preferred stock will be suspended at the opening of business on September 4, 2024, and a Form 25-NSE will be filed with the
SEC, which will remove the Company’s securities from listing and registration on Nasdaq.
The
Company intends to appeal the determination described in the Letter by August 30, 2024. The Letter states that hearings are typically
scheduled to occur approximately 30-45 days after the date of the hearing request, and a hearing request will stay the suspension of the
Company’s securities and the filing of the Form 25-NSE. The Company will be asked to provide the Hearings Panel with a plan to regain
compliance, which plan the Company is in the process of preparing.
The
Letter has no immediate effect on the listing of the Company’s securities on Nasdaq. There can be no assurance, however, that the
Company will be successful in its appeal to the Hearings Panel or be able to regain compliance with the listing standards discussed above.
Item 9.01. Financial
Statement and Exhibits.
(d) Exhibits:
Exhibit |
|
Description |
104 |
|
Cover Page Interactive Data File (formatted in Inline XBRL). |
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: August 23, 2024 |
LUXURBAN HOTELS INC. |
|
|
|
|
By: |
/s/ Michael James |
|
|
Michael James |
|
|
Chief Financial Officer |
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Aug. 20, 2024 |
Document Type |
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|
Amendment Flag |
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|
Document Period End Date |
Aug. 20, 2024
|
Entity File Number |
001-41473
|
Entity Registrant Name |
LuxUrban Hotels Inc.
|
Entity Central Index Key |
0001893311
|
Entity Tax Identification Number |
82-3334945
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
212 Biscayne Blvd
|
Entity Address, Address Line Two |
Suite 253
|
Entity Address, City or Town |
Miami
|
Entity Address, State or Province |
FL
|
Entity Address, Postal Zip Code |
33137
|
City Area Code |
(833)
|
Local Phone Number |
723-7368
|
Written Communications |
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|
Soliciting Material |
false
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Pre-commencement Tender Offer |
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Entity Emerging Growth Company |
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|
Elected Not To Use the Extended Transition Period |
false
|
Common Stock 0. 00001 Par Value Per Share [Member] |
|
Title of 12(b) Security |
Common Stock, $0.00001 par value per share
|
Trading Symbol |
LUXH
|
Security Exchange Name |
NASDAQ
|
Series A Cumulative Redeemable Preferred [Member] |
|
Title of 12(b) Security |
13.00% Series A Cumulative Redeemable Preferred Stock, $0.00001 par value per share
|
Trading Symbol |
LUXHP
|
Security Exchange Name |
NASDAQ
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LuxUrban Hotels (NASDAQ:LUXH)
過去 株価チャート
から 8 2024 まで 9 2024
LuxUrban Hotels (NASDAQ:LUXH)
過去 株価チャート
から 9 2023 まで 9 2024