Short-Term Rental Firm CorpHousing Group Is Slated to Do an IPO Friday
CorpHousing Group, which provides short-term rentals under the SoBeNY consumer brand, was slated to see its shares begin trading Friday on the Nasdaq Capital Market.
The company announced that it hoped to generate $13.5 million in gross proceeds as it stock starts trading under the symbol CHG. The Nasdaq Capital Market is geared for emerging companies with smaller market caps.
The initial public offering would be for more than 3.3 million shares at $4 per share, the company said.
CorpHousing Group offers consumers short-term rentals of single and multifamily units, including furnished apartments.
"Our acquisition initiatives also include leasing portfolios of unreserved rooms at hotels or leasing closed hotels and reopening them under our brands, including SoBeNY," the company said in its prospectus.
It currently has rentals in Denver; Los Angeles; Miami; Miami Beach; Seattle; Washington, D.C.; Boston and New York, among other locations.
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