Venu Holding issues $25M convertible debentures for amphitheater construction

Venu Holding Corp

$25M principal Senior Secured Convertible Debentures issued to institutional investor; net proceeds ~$11.875M initially, up to $23.75M after holdback release.
Debentures convertible at $7.50/share; warrants to purchase 1M shares at $5.00/share; placement agent warrants for 200K shares at $6.25.
Proceeds primarily for construction of The Sunset BA amphitheater in Broken Arrow, Oklahoma; CEO J.W. Roth provides personal guaranty.
Debentures mature July 31, 2027; no interest unless default (then 18% p.a.); monthly installments of $5M principal plus premium.
Holdback of $12.5M in cash collateral pending satisfactory appraisal of amphitheater property; if not delivered within 14 days, investor can apply to repay principal.

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