Venu Holding Corporation announced the closing of its initial public offering on November 29, 2024. The company sold 1,380,000 shares of its common stock, which included 180,000 shares from the full exercise of the underwriter’s option to purchase additional shares.
The shares were priced at $10.00 per share, resulting in gross proceeds of $13,800,000 before deducting underwriting discounts and offering expenses. This successful capital raise provides a substantial financial foundation for VENU's future plans.
The net proceeds from the offering are intended 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 general market expansion and due diligence efforts to explore new venue openings.
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