LuxUrban Hotels (NASDAQ:LUXH) Faces Delisting from Nasdaq

LuxUrban Hotels Inc., a Delaware-based hotel company, recently received notice from The Nasdaq Stock Market LLC (Nasdaq) indicating that the Nasdaq Hearings Panel has made the decision to delist the company’s securities from Nasdaq. The decision was based on LuxUrban Hotels’ non-compliance with Listing Rule Listing Rules 5250(c)(1), 5550(a)(2), and 5555(a). Nasdaq is set to suspend the trading of LuxUrban Hotels’ securities starting Friday, January 17, 2025.

The company has a 15-day window from the date of receiving the Panel’s decision to request a review by the Nasdaq Listing and Hearing Review Council (the Council). Alternatively, the Council itself may opt to review the Panel’s decision within 45 calendar days after LuxUrban Hotels was notified of the delisting.

Subsequent to the suspension of trading on Nasdaq, LuxUrban Hotels anticipates that its common stock and preferred stock will become eligible for quotation on the OTC Pink Market under the existing symbols “LUXH” and “LUXHP.” Furthermore, the company intends to seek a listing for its common stock and preferred stock on a higher-tier OTC market, like the OTCQB.

In related financial matters, LuxUrban Hotels submitted an Exhibit for Cover Page Interactive Data File (embedded within the Inline XBRL document) along with the current report.

This shift to the OTC Pink Market comes as a response to Nasdaq’s determination regarding LuxUrban Hotels’ non-compliance with listing rules. The company’s management will work on adhering to the necessary requirements for re-listing in the future.

LuxUrban Hotels’ Chief Financial Officer, Michael James, signed off on the report on behalf of the company on January 15, 2025.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read LuxUrban Hotels’s 8K filing here.

About LuxUrban Hotels

LuxUrban Hotels Inc utilizes an asset light business model to lease entire hotels on a long-term basis and rent out hotel rooms in the properties it leases. It manages a portfolio of hotel rooms in New York, Washington DC, Miami Beach, New Orleans, and Los Angeles. The company was formerly known as CorpHousing Group Inc and changed its name to LuxUrban Hotels Inc in November 2022.