CorpHousing Group Inc. Announces Listing on Nasdaq and Pricing of $13.5 Million Initial Public Offering
11 Agosto 2022 - 7:00PM
CorpHousing Group Inc. (“CorpHousing” or the
“Company”) (Nasdaq: CHG), a
company engaged in the short-term rental of hotel units to guests
across major metropolitan cities in the United States, today
announced the pricing of its initial public offering of 3,375,000
shares of its common stock at a public offering price of $4.00 per
share, for gross proceeds of approximately $13.5 million, before
deducting underwriting discounts and offering expenses. In
addition, CorpHousing has granted the underwriters a 45-day option
to purchase up to an additional 506,250 shares of common stock to
cover over-allotments at the initial public offering price, less
the underwriting discount.The shares of common stock are expected
to begin trading on The Nasdaq Capital Market on August 12, 2022,
under the symbol “CHG”. The offering is expected to close on
August 16, 2022, subject to satisfaction of customary closing
conditions.
Maxim Group LLC is acting as the lead
book-running manager in connection with the offering and Joseph
Gunnar & Co. is acting as joint book-running manager for the
offering.
A registration statement on Form S-1 (File No.
333-262114) was filed with the Securities and Exchange Commission
(“SEC”), which became effective on August 11, 2022. A final
prospectus relating to the offering will be filed with the SEC and
will be available on the SEC's website at http://www.sec.gov. The
offering is being made only by means of a prospectus forming part
of the effective registration statement. Electronic copies of the
prospectus relating to this offering, when available, may be
obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New
York, New York 10022, at (212) 895-3745. Before investing in this
offering, interested parties should read in its entirety the
registration statement that the Company has filed with the SEC,
which provides additional information about the Company and this
offering.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
CorpHousing Group Inc.
CorpHousing Group Inc. is engaged in the short-term rental of hotel
units to guests across major metropolitan cities in the United
States. The Company utitlizes its technology and expertise to
cost-effectively identify, acquire, manage and market these units
to business and vacation travelers, while providing guests Heroic
ServiceTM under their consumer brand LuxUrban. CorpHousing is
building a growing portfolio of leased properties they offer to
guests for short-term stays at rental and occupancy rates that
exceed total cost and expenses for such properties.
Forward Looking Statements This
press release contains forward-looking statements, including with
respect to the expected closing of the Company’s proposed initial
public offering and use of proceeds. These forward-looking
statements are subject to a number of risks, uncertainties and
assumptions, including market and other conditions and that the
conditions to the closing of the initial public offering may not be
satisfied, and the risks set forth under the caption “Risk Factors”
in the prospectus forming part of the effective Registration
Statement on Form S-1 (File No. 333-262114). Generally, such
forward-looking information or forward-looking statements can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or may contain statements that certain actions, events
or results "may", "could", "would", "might" or "will be taken",
"will continue", "will occur" or "will be achieved".
Forward-looking information may relate to anticipated events or
results including, but not limited to business strategy, product
development and sales and growth plans. The forward-looking
information and forward-looking statements contained in this press
release are made as of the date of this press release, and the
Company does not undertake to update any forward-looking
information and/or forward-looking statements that are contained or
referenced herein, except in accordance with applicable securities
laws.
Investor Contacts: Crescendo
Communications. LLC(212) 671-1020chg@crescendo-ir.com
CorpHousing (NASDAQ:CHG)
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