LuxUrban Hotels Inc. entered into a securities purchase agreement with an existing private investment fund for issuance of 8,000,000 common shares at a price of $0.25 per share for gross proceeds of $2,000,000 on June 26, 2024. The company paid placement agent fees of approximately $140,000. The purchaser has been afforded the right to purchase up to an additional 8,000,000 shares at $0.25 per share (subject to downward price adjustments for certain issuance by the Company below $0.25) during the period commencing six months after the closing and ending on the 18-month anniversary of the closing.