Venu Holding converts $15M notes into stock at $10/share; creates Series A 8% preferred

Venu Holding Corp

• $15M principal plus accrued interest on three notes converted into 1,542,367 common shares at $10/share.
• Conversion used $10/share instead of standard 10-day formula; all amounts satisfied in full.
• Filed Certificate of Designation for up to 5M Series A 8% Cumulative Convertible Preferred, $15 stated value, convertible at $15.
• Preferred pays 8% cumulative quarterly dividends; ranks senior to common and pari passu to Series B preferred.
• Company may redeem preferred after five years at $15 plus accrued dividends; anticipates Regulation A offering.