Venu Holding Corporation announced the pricing of its initial public offering on November 26, 2024. The company offered 1,200,000 shares of its common stock at a public offering price of $10.00 per share, generating aggregate gross proceeds of $12 million before deducting underwriting discounts and other offering expenses.
The offering included a 45-day option for underwriters to purchase up to an additional 180,000 shares of common stock to cover over-allotments. Shares were expected to begin trading on the NYSE American under the ticker symbol 'VENU' on November 27, 2024, with the offering anticipated to close on November 29, 2024.
Net proceeds from the IPO are designated to fund the expansion of business operations, further development of company services, business promotion activities, and for working capital and general corporate purposes. This includes efforts to explore the opening of new restaurant, entertainment, and music venues, signaling a significant growth phase for VENU.
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