LuxUrban Hotels to Implement 1-for-70 Reverse Stock Split

MT Newswires Live2024-11-16

LuxUrban Hotels (LUXH) said late Friday it will implement a 1-for-70 reverse split of its common stock, which will become effective on Wednesday.

The company said the split, which was approved during a special shareholders' meeting on Tuesday, will help fortify its standing in the Nasdaq Capital Markets, improve the stock's trading profile, and pave the way for future expansion.

LuxUrban shareholders also approved a proposal to waive the 19.99% share limitation under a Nasdaq rule to allow the company to issue additional common shares for the conversion of certain convertible promissory notes and the exercise of outstanding warrants.

With this approval, LuxUrban said it can continue to uphold its adherence to Nasdaq's listing requirements.

Shares of LuxUrban Hotels were down more than 9% in after-hours activity.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2483553648?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-16 06:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2483553648","market":"hk","top_or_hot":-1,"title":"LuxUrban Hotels to Implement 1-for-70 Reverse Stock Split","media":"MT Newswires Live","content":"<html><body><p> <a href=\"https://laohu8.com/S/LUXH\">LuxUrban Hotels</a> (LUXH) said late Friday it will implement a 1-for-70 reverse split of its common stock, which will become effective on Wednesday.</p><p>The company said the split, which was approved during a special shareholders' meeting on Tuesday, will help fortify its standing in the Nasdaq Capital Markets, improve the stock's trading profile, and pave the way for future expansion.</p><p>LuxUrban shareholders also approved a proposal to waive the 19.99% share limitation under a Nasdaq rule to allow the company to issue additional common shares for the conversion of certain convertible promissory notes and the exercise of outstanding warrants.</p><p>With this approval, LuxUrban said it can continue to uphold its adherence to Nasdaq's listing requirements.</p><p>Shares of LuxUrban Hotels were down more than 9% in after-hours activity.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>LuxUrban Hotels to Implement 1-for-70 Reverse Stock Split</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLuxUrban Hotels to Implement 1-for-70 Reverse Stock Split\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2024-11-16 06:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> <a href=\"https://laohu8.com/S/LUXH\">LuxUrban Hotels</a> (LUXH) said late Friday it will implement a 1-for-70 reverse split of its common stock, which will become effective on Wednesday.</p><p>The company said the split, which was approved during a special shareholders' meeting on Tuesday, will help fortify its standing in the Nasdaq Capital Markets, improve the stock's trading profile, and pave the way for future expansion.</p><p>LuxUrban shareholders also approved a proposal to waive the 19.99% share limitation under a Nasdaq rule to allow the company to issue additional common shares for the conversion of certain convertible promissory notes and the exercise of outstanding warrants.</p><p>With this approval, LuxUrban said it can continue to uphold its adherence to Nasdaq's listing requirements.</p><p>Shares of LuxUrban Hotels were down more than 9% in after-hours activity.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LUXHP","symbol_name":"LuxUrban Hotels优先A","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2483553648","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483553648","pubTimestamp":1731708050,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"LuxUrban Hotels (LUXH) said late Friday it will implement a 1-for-70 reverse split of its common stock, which will become effective on Wednesday.The company said the split, which was approved during a","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LUXHP":"LuxUrban Hotels优先A","BK4205":"房地产经营公司","BK4233":"房地产运营公司","LUXH":"LuxUrban Hotels Inc."},"translate_title":"LuxUrban Hotels将实施70股1股反向股票分割","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LUXH":1,"NQmain":0.9,"LUXHP":1},"content_text":"LuxUrban Hotels (LUXH) said late Friday it will implement a 1-for-70 reverse split of its common stock, which will become effective on Wednesday.The company said the split, which was approved during a special shareholders' meeting on Tuesday, will help fortify its standing in the Nasdaq Capital Markets, improve the stock's trading profile, and pave the way for future expansion.LuxUrban shareholders also approved a proposal to waive the 19.99% share limitation under a Nasdaq rule to allow the company to issue additional common shares for the conversion of certain convertible promissory notes and the exercise of outstanding warrants.With this approval, LuxUrban said it can continue to uphold its adherence to Nasdaq's listing requirements.Shares of LuxUrban Hotels were down more than 9% in after-hours activity.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483553648","isCrawlerRequest":true}