LuxUrban Hotels宣布70投1的反向股票拆分

2024-11-16 05:48

LuxUrban Hotels (NASDAQ:LUXH) said on Friday it will effectuate a one-for-seventy reverse stock split of its common stock.
The split, which will be effective on November 20, 2024, will reduce the number of shares of common stock issued and outstanding from 151.85M to 2.17M.
The reverse stock split is part of LuxUrban Hotels’ strategy to strengthen its position within Nasdaq, improve the stock's trading profile, and position the company for future growth and expansion opportunities, the company stated.
In addition, stockholders approved the company to issue additional shares of common stock upon the conversion of certain convertible promissory notes and the exercise of outstanding warrants.
"This approval enables LuxUrban to maintain its compliance with Nasdaq listing standards while maximizing the flexibility of its financing arrangements," the company added.
Source: Press Release

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