By Anvee Bhutani
Venu Holding shares fell Monday following its plan for an $80 million sale-leaseback financing transaction tied to a parking garage at its Sunset Amphitheater in McKinney, Texas.
Shares of the live entertainment venue operator were recently down 17% at $2.84. The company's shares have fallen 66% year to date.
The company said the transaction would be the latest step in its previously announced financing strategy and would help fund its national expansion.
The planned financing follows Venu's recently completed $49.7 million sale-leaseback of the land beneath its Ford Amphitheater in Colorado Springs.
The company said it is targeting about $200 million in additional sale-leaseback transactions across its portfolio as part of an about $250 million capital strategy. The proceeds would be redeployed into projects currently under development.
Venu said the McKinney amphitheater is among two venues nearing completion, alongside a location in Broken Arrow, Okla., while projects in Houston and El Paso, Texas, remain under development.
Write to Anvee Bhutani at anvee.bhutani@wsj.com
(END) Dow Jones Newswires
June 15, 2026 11:27 ET (15:27 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.