VENU Closes $86 Million Capital Raise

Venue developer and operator Venu Holding Corporation has raised $86 million in an oversubscribed public equity offering.

Funding allocation:

• VENU will apportion some of the funds to the development costs of The Sunset Amphitheater in McKinney, Texas, and The Sunset Amphitheater in Broken Arrow, Oklahoma.

• It will also pay back a promissory note in the principal amount of $4.35 million issued in connection with its recent acquisition of property in Centennial, Colorado, on which it plans to develop an indoor music hall and restaurant, as per Music Business Worldwide.

• Some of the money will be used for working capital and other corporate purposes.

Existing portfolio:

• VENU’s portfolio includes Ford Amphitheater, Sunset Amphitheaters, Phil Long Music Hall, The Hall at Bourbon Brothers, Bourbon Brothers Smokehouse and Tavern, Aikman Clubs, and Roth’s Sea & Steak.

• Its long-term goal is to establish VENU destinations in 40 markets across the US.

What they said:

• J.W. Roth, Founder, Chairman and CEO of VENU: “The market is hungry, and this raise proves it. We’ve created a model to scale premium entertainment destinations across the country, and investors are recognizing the opportunity. The fire is catching, and we’re just getting started.”