Venu Prices $75 Million Securities Offering; Shares Down Pre-Bell
MT Newswires Live
Mar 09
Venu Holding (VENU) said Sunday it priced a public offering of its securities for about $75 million in expected gross proceeds.
The offering comprises 18.75 million common shares and one accompanying warrant per share or pre-funded warrant, priced at $4 apiece.
Each warrant is exercisable at $5 per share.
Underwriters have a 45-day overallotment option to purchase up to 2,812,500 additional shares and/or additional 2,812,500 warrants.
The company expects the offering to close Tuesday and plans to use the net proceeds to help fund the development costs of the Sunset McKinney and the Sunset Broken Arrow, among other things.
Venu shares were down 26% in premarket activity Monday.
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