Venu Holding (VENU) said late Tuesday it has priced an initial public offering of 1.2 million shares at $10 per share for gross proceeds of $12 million.

The shares are expected to begin trading on the New York Stock Exchange Wednesday under the ticker symbol "VENU" and the offering is expected to close Friday.

The company said it granted the underwriters a 45-day option to purchase up to 180,000 additional shares to cover any over-allotments.

The live music venue developer said it intends to use net proceeds to fund the expansion and promotion of its business operations and for general corporate purposes.