other_material
confidence high
sentiment positive
materiality 0.85
Venu Holding closes $75M offering; nets $80.1M for venue development and debt repayment
Venu Holding Corp
- Gross proceeds $75M; net proceeds ~$80.1M after full exercise of over-allotment option.
- Offered 18,750,000 units at $4.00/unit (share or pre-funded warrant + warrant, $5.00 exercise, 5-year term).
- Over-allotment fully exercised: additional 2,812,500 shares and 2,812,500 warrants.
- Proceeds to fund The Sunset McKinney, The Sunset Broken Arrow, and repay $4.35M promissory note for Centennial property.
- 90-day lock-up for officers/directors; company 60-day lock-up from final prospectus date.