By Amira McKee
Shares of Venu Holding fell after the music venue operator priced its public stock offering.
The stock retreated 25% to $6.40 in Wednesday morning trading, marking a new 52-week low. The shares have fallen 33% in the past year.
The Colorado Springs, Colo.-based company said Wednesday that it will offer $75 million worth of shares of its common stock.
Venu Holding expects to grant underwriters a 30-day option to purchase up to an additional $11.25 million worth of shares to cover over-allotments, if any.
Deutsche Bank Securities and ThinkEquity are acting as joint book-running managers for the proposed offering.
Venu said it intends to use the proceeds from the offering to fund a portion of the development costs of its amphitheater projects: The Sunset McKinney, The Sunset Broken Arrow, and The Sunset El Paso. The proceeds will also be used to help cover the closing of the company's real estate purchase in Centennial, Colo., and to develop an indoor music hall and restaurant on the property, the company said. The funds will also be used for working capital and other general corporate purposes, it added.
Write to Amira McKee at amira.mckee@wsj.com
(END) Dow Jones Newswires
January 28, 2026 10:30 ET (15:30 GMT)
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