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Business Wire
2 days ago
- Business
- Business Wire
Venu Holding Corporation Announces Fan-Forward Preferred Offering with 8% Dividend and NYSE Access
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--Venu Holding Corporation ("VENU" or the 'Company') (NYSE American: VENU), a developer, owner, and operator of upscale live music venues and premium hospitality destinations, today launched an offering of its 8.0% convertible Preferred Stock. Accredited and non-accredited individual investors can now purchase shares of Preferred Stock and join the movement at Known for fostering new pathways for ownership in one of the fastest growing industries, this initiative offers music lovers, investors and everyone in between the opportunity for a front row seat to priority returns. VENU's Preferred Offering gives shareholders an opportunity to earn an 8.0% dividend and to convert to VENU's common stock, traded on the NYSE American under ticker symbol VENU. Share VENU's Preferred Offering gives shareholders an opportunity to earn an 8.0% dividend and to convert to VENU's common stock, traded on the NYSE American under ticker symbol VENU. As part of the fan-owned model, shareholders can also unlock access to exclusive loyalty perks based on the level of investment, ranging from free concert tickets and custom signed guitars to unforgettable all-inclusive concert experiences. "This is an exciting time for our fan-founded and fan-owned movement. I built this company with the heart of a fan and as a seasoned entrepreneur,' said J.W. Roth, Founder and CEO of VENU. 'This Preferred Stock offering strengthens our ability to expand into key markets, while delivering exceptional fan-first experiences, and drives long-term shareholder value. As a public company, we're proud to offer our community a chance to take an even more active role in the future of live entertainment." How To Invest: Those interested in purchasing shares in the offering should visit and hit the 'Invest Now' button. Investors are not required to be accredited and any individual over 18 years of age is able to purchase shares at $15.00 per share. An expanding ownership opportunity portfolio The global live entertainment market is projected to reach $79.7 billion by 2030, growing at a 16.1% CAGR (ResearchAndMarkets). VENU's fan-founded, fan-owned model was built to expand opportunities for ownership in music to the masses. Including innovative fractional ownerships in world-class amphitheaters through Luxe FireSuites with optional structured financing, triple-net lease opportunities, membership-based Aikman Clubs, FINRA-approved investment vehicles such as 1031 exchange-eligible DST funding, common stock and now Regulation A+ Preferred Stock. As consumer demand for premium live entertainment experiences surges, VENU is proud to expand ownership opportunities as it strengthens its market position, enhances revenue predictability, and reinforces its long-term growth potential. About Venu Holding Corporation Venu Holding Corporation ("VENU") (NYSE American: VENU), founded by Colorado Springs entrepreneur J.W. Roth, is a premier hospitality and live music venue developer dedicated to building luxury, experience-driven entertainment destinations. VENU's campuses in Colorado Springs, Colorado, and Gainesville, Georgia, each feature Bourbon Brothers Smokehouse and Tavern, The Hall at Bourbon Brothers, and unique to Colorado Springs, Notes Eatery and the 9,750-seat Ford Amphitheater. Expanding with new Sunset Amphitheaters in Oklahoma and Texas, VENU's upcoming large-scale venues will host between 12,500 and 20,000 guests, continuing VENU's vision of redefining the live entertainment experience. Click here for company overview. VENU has been recognized nationally by The Wall Street Journal, The New York Times, Denver Post, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents and NFL Hall of Famer and Founder of EIGHT Elite Light Lager, Troy Aikman, VENU continues to shape the future of the entertainment landscape. For more information, visit VENU's website, Instagram, LinkedIn, or X. Disclaimer: VENU is offering securities through the use of an Offering Statement that has been qualified by the Securities and Exchange Commission under Tier II of Regulation A. Before making any investment, you are urged to read the Final Offering Circular carefully for a more complete understanding of the issuer and the offering. There is no guarantee of return, and you should only invest money that you can afford to lose. Use proper risk management when considering this investment. The offering documents may include 'forward-looking statements' within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions for forward-looking statements. This information is supplied from sources we believe to be reliable but we cannot guarantee accuracy. Although we believe our expectations expressed in such forward-looking statements are reasonable, we cannot assure you that they will be realized. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, but not limited to the risks and uncertainties set forth in the attached materials, which could cause actual results to differ materially from the anticipated results set forth in such forward-looking statements. Any forward-looking statement made by us speaks only as of the date on which it is made, and we undertake no obligation to publicly update any forward-looking statement except as may be required by law. The securities offered by VENU are highly speculative. Investing in these securities involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Investors must understand that such investment could be illiquid for an indefinite period of time. VENU intends to apply to have our Series A Preferred Stock listed on the NYSE American under the symbol 'VENUP' following the NYSE American's certification of the Form 8-A of the Company to be filed after the final closing of this offering. The listing of the Company's Series A Preferred Stock on the NYSE American is not a condition of the Company's proceeding with this offering, and no assurance can be given that our application to list on the NYSE American will be approved or that an active trading market for our Series A Preferred Stock will develop. Our Series A Preferred Stock is not currently listed or quoted on any exchange. For additional information on VENU, the offering and any other related topics, please review the Form 1-A offering circular that can be found by searching for VENU under Filings/Company filings search on Additional information concerning Risk Factors related to the offering, including those related to the business, government regulations, intellectual property and the offering in general, can be found in the risk factor section of the Form 1-A offering circular.
Yahoo
31-03-2025
- Business
- Yahoo
Venu Holding Corporation Reports Its 2024 Annual Results
Total Assets Increase over $95,000,000 Year-over-Year Strong Momentum Continues Market Expansion Progress, Record Breaking FireSuite Sales, and Ford Amphitheater Finishes Its Inaugural Season. COLORADO SPRINGS, Colo., March 31, 2025--(BUSINESS WIRE)--Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), a developer, owner, and operator of upscale live music venues and premium hospitality destinations, announced today its results for the fiscal year ended December 31, 2024. "2024 was nothing short of spectacular for VENU—marked by record-breaking performances, electric openings, and strategic moves that truly put us center-stage in the premium live entertainment industry," says J.W. Roth Founder, Chairman, and CEO of VENU. "From the wildly successful launch of our flagship Ford Amphitheater, which captivated over 112,000 fans from across the nation and received a Nomination for Pollstar Magazines' 2024 Best New Concert Venue of the Year, to our bold expansion plans and efforts into fast-growing markets such as McKinney, Broken Arrow, and El Paso this year showcased the boundless potential of our unique, fan-centric vision. We're not just building venues; we're setting a new standard for luxury entertainment that keeps our audiences thrilled and coming back for more. As we look ahead to 2025, the excitement only intensifies. Our recent IPO energized our mission, empowering us to accelerate our ambitious plans, including new partnerships with iconic brands and legends like NFL Hall of Famer and Founder of EIGHT Beer, Troy Aikman, alongside major appointments to our leadership team. Building a business like ours requires significant upfront investment. We expect to turn the corner toward operational profitability in 2026, driven by development revenue from the expected official opening of three major venues in McKinney, El Paso, and Broken Arrow. With every strategic step, we're redefining the live entertainment landscape—delivering unmatched value to our shareholders and, most importantly, unforgettable experiences to our fans. Buckle up!" 2024 Financial Highlights Luxe FireSuite sales reached $77.7 million in 2024, representing a 250% increase over 2023's total of $22.2 million. This significant year-over-year growth in fractional ownership underscores the strong demand and market traction for our premium offerings. Total assets increased 114% to $178.4 million as of December 31, 2024, up from $83.2 million at December 31, 2023. Property and equipment increased 138% to $137.2 million as of December 31, 2024, up from $57.7 million at December 31, 2023. Total annual revenue rose 42% to $17.8 million in fiscal 2024 compared to $12.6 million in fiscal 2023. Restaurant operations continued steady growth up $1.3 million and 14% in fiscal 2024 compared to fiscal 2023. Event center operations grew $2.2 million and 74%, respectively, in fiscal 2024 compared to fiscal 2023. Both operations were successful due to growth at the Colorado Springs campus, along with the Georgia campus being fully operational during the full year of 2024 compared to opening mid-year 2023. Amphitheater operations generated net profit to VENU, due to the opening and initial success of Ford Amphitheater (defined as profit after VENU's split with AEG Presents Rocky Mountains, the operator of the amphitheater), with receipts from our naming rights agreements (which are outside of VENU's AEG partnership agreement), combined for $1,659,291 or 9% of our total revenue for fiscal 2024. Over the limited 2024 season of 20 shows at the Ford Amphitheater, this location generated gross receipts of $15.2 million. These gross receipts, which are inclusive of ticket sales, concessions, ticketing fees, premium upgrades, as well as other receipts, are subject to the split with AEG. The Ford Amphitheater, booked and operated in partnership with AEG Presents Rocky Mountains, sold over 97,000 tickets at an average of $156 per ticket in its 20 shows of 2024. Operational Highlights for 2024 and Subsequent Events: Successfully completed initial public offering, listing shares on NYSE American and raising approximately $12.3 million in net proceeds in the initial public offering. Grand opening of the Ford Amphitheater in Colorado Springs, which hosted over 112,000 fans from over 5,500 unique zip codes nationwide in its inaugural limited season and was nominated for Pollstar Magazine's 2024 Best New Concert Venue of the Year. Broke ground on amphitheater projects in Broken Arrow, Oklahoma, and commenced construction phases for additional new locations in Texas and Oklahoma. Announced an $105,000,000 ultra-lux Amphitheater in El Paso, Texas through a significant public private partnership. Closed on 46-acre property for 20,000-seat world-class outdoor music venue in McKinney, TX, one of America's fastest-growing cities, just northeast of Dallas-Fort Worth. Established significant partnerships and sponsorships, including agreements with Colorado Ford Dealers, Kaiser Permanente, NFL Hall of Famer Troy Aikman, and EIGHT Elite Light Beer. Strengthened leadership with key executive appointments including Will Hodgson as President and Terri Liebler as Chief Marketing Officer. Launched the VENU Arts and Culture Foundation, furthering commitment to supporting local talent and enhancing community cultural vibrancy. 2025 Recent Announcements After surpassing $77.7 million in FireSuite (fractional ownership interests) sales in 2024, the Company continued its momentum into 2025. The Company continued its record-breaking momentum into 2025, generating $10.4 million in January and $11.2 million in February. With a strong start to the year, the Company remains on track to achieve its goal of $200 million for 2025. Launched VENU Income Offering, a program designed for RIAs and broker dealers intended to provide the potential for consistent monthly income to their clients through pooled ownership of VENU's Luxe FireSuites located in the McKinney, TX, and Broken Arrow, OK amphitheaters. Launched VENU Fractional Ownership Financing designed to accelerate the expansion of its highly sought-after Luxe FireSuites. The program permits buyers to finance their purchase of rights to a FireSuite making the FireSuites accessible to a broader audience. The Company has enhanced the planned features and amenities at its in-development amphitheaters to allow them to expand to year-round operations through a multi-season venue configuration for its planned venues in McKinney, TX; El Paso, TX; Broken Arrow, OK; and Yukon, OK—unlocking new revenue growth. This innovative model increases the number of events hosted annually at each location while enhancing operational efficiency. Moving forward, the Company intends to incorporate this flexible configuration into all newly developed venues. CONFERENCE CALL DETAILS Monday, March 31, 2025, at 4:30 p.m. Eastern Time USA/Canada Toll-Free Dial-In Number: (800) 715-9871 International Toll Dial-In Number: +1 (646) 307-1963 Conference ID: 9521412 Conference Call Replay - available through March 31, 2026, at About Venu Holding Corporation Venu Holding Corporation ("VENU") (NYSE American: VENU), founded by Colorado Springs entrepreneur J.W. Roth, is a premier hospitality and live music venue developer dedicated to crafting luxury, artist-centric, experience-driven entertainment destinations. VENU's campuses in Colorado Springs, Colorado, and Gainesville, Georgia, each feature Bourbon Brothers Smokehouse and Tavern, The Hall at Bourbon Brothers, and unique to Colorado Springs, Notes Eatery and the 9,570-seat Ford Amphitheater. Expanding with new multi-season Sunset Amphitheaters in Oklahoma and Texas, VENU's upcoming large-scale venues will host between 12,500 and 20,000 guests, continuing VENU's vision of redefining the premium live entertainment experience. Click here to view our company overview. VENU has been recognized nationally by The Wall Street Journal, The New York Times, Denver Post, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents and NFL Hall of Famer and Founder of EIGHT Elite Light Beer, Troy Aikman, VENU continues to shape the future of the entertainment landscape. For more information, visit Forward-Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. VENU HOLDING CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in US Dollars) As of December 31, December 31, 2024 2023 ASSETS Current assets Cash and cash equivalents $ 37,969,454 $ 20,201,104 Inventories 225,283 185,746 Prepaid expenses and other current assets 850,951 209,215 Total current assets 39,045,688 20,596,065 Other assets Property and equipment, net 137,215,936 57,737,763 Intangible assets, net 211,276 277,995 Operating lease right-of-use assets, net 1,351,600 3,685,980 Investments in related parties 550,000 550,000 Security and other deposits 43,015 375,904 Total other assets 139,371,827 62,627,642 Total assets $ 178,417,515 $ 83,223,707 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable $ 7,283,033 $ 2,565,460 Accrued expenses 3,556,819 698,369 Accrued payroll and payroll taxes 262,387 331,457 Deferred revenue 1,528,159 764,081 Convertible debt 9,433,313 - Current portion of operating lease liabilities 364,244 230,952 Current portion of long-term debt 2,101,501 325,245 Total current liabilities 24,529,456 4,915,564 Long-term portion of operating lease liabilities 1,020,604 3,646,385 Long-term licensing liability 7,950,000 1,500,000 Long-term debt, net of current portion 14,100,217 11,182,073 Total liabilities $ 47,600,277 $ 21,244,022 Commitments and contingencies - See Note 14 Stockholders' Equity Class B common stock, $0.001 par - 1,000,000 authorized, 379,990 issued and outstanding at 379 1,960 December 31, 2024 and 30,000,000 authorized and 1,959,445 issued and outstanding at December 31, 2023 Class C common stock, $0.001 par - 0 authorized and issued and outstanding at December 31, 2024 - 30,306 and 50,000,000 authorized and 30,306,060 issued and outstanding at December 31, 2023 Common stock, $0.001 par - 144,000,000 authorized, 37,471,465 issued and outstanding at 37,472 - December 31, 2024 and 60,000,000 authorized at 0 issued and outstanding at December 31, 2023 Preferred stock, $0.001 par - 5,000,000 authorized, none issued or outstanding - - Additional paid-in capital 144,546,368 47,743,085 Accumulated deficit (47,361,208 ) (17,021,453 ) $ 97,223,011 $ 30,753,898 Treasury Stock, at cost - 276,245 shares at December 31, 2024 and 76,245 shares at December 31, 2023 (1,500,076 ) (76 ) Total Venu Holding Corporation and subsidiaries equity $ 95,722,935 $ 30,753,822 Non-controlling interest 35,094,303 31,225,863 Total stockholders' equity $ 130,817,238 $ 61,979,685 Total liabilities and stockholders' equity $ 178,417,515 $ 83,223,707 VENU HOLDING CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (in US Dollars) For the years ended December 31, 2024 2023 Revenues Restaurant including food and beverage revenue $ 10,828,972 $ 9,522,523 Event center ticket and fees revenue 4,648,478 2,152,826 Rental and sponsorship revenue 2,356,933 922,315 Total revenues $ 17,834,383 $ 12,597,664 Operating costs Food and beverage 2,409,133 2,216,359 Event center 2,554,606 1,072,909 Labor 4,383,505 3,667,095 Rent 1,361,787 815,233 General and administrative 18,832,115 12,470,650 Equity compensation 12,015,133 1,610,350 Depreciation and amortization 3,656,229 1,877,236 Total operating costs $ 45,212,508 $ 23,729,832 Loss from operations $ (27,378,125 ) $ (11,132,168 ) Other income (expense), net Interest expense (3,906,959 ) (331,674 ) Other expense (2,500,006 ) - Loss on sale of investments - (75,603 ) Interest income 705,729 20,152 Other income 130,387 132,500 Total other expense, net (5,570,849 ) (254,625 ) Net loss $ (32,948,974 ) $ (11,386,793 ) Net loss attributable to non-controlling interests (2,609,219 ) (862,320 ) Net loss attributable to common stockholders $ (30,339,755 ) $ (10,524,473 ) Weighted average number of shares of Class A common stock, outstanding, basic and diluted - 136,301 Basic and diluted net loss per share of Class A common stock $ - $ (0.39 ) Weighted average number of shares of Class B common stock, outstanding, basic and diluted 724,629 16,640,620 Basic and diluted net loss per share of Class B common stock $ (0.86 ) $ (0.39 ) Weighted average number of shares of Class C common stock, outstanding, basic and diluted 6,758,034 10,106,179 Basic and diluted net loss per share of Class C common stock $ (0.86 ) $ (0.39 ) Weighted average number of shares of Class D common stock, outstanding, basic and diluted 16,319,014 - Basic and diluted net loss per share of Class D common stock $ (0.86 ) $ - Weighted average number of shares of Common stock, outstanding, basic and diluted 11,642,944 - Basic and diluted net loss per share of Common stock $ (0.86 ) $ - VENU HOLDING CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (in US Dollars) For the years ended December 31, 2024 2023 Net loss $ (32,948,974 ) $ (11,386,793 ) Adjustments to reconcile net loss to net cash used in operating activities: Equity issued for interest on convertible debt 766,920 - Equity based compensation 12,015,133 1,610,350 Project abandonment loss 668,403 - Amortization of debt discount 2,917,989 4,544 Non cash lease expense 498,808 486,924 Unrealized income on equity method investment - 75,603 Depreciation and amortization 3,656,229 1,877,236 Noncash financing expense 2,500,000 - Noncash interest - 1,292 Changes in operating assets and liabilities: Inventories (39,537 ) (98,591 ) Prepaid expenses and other current assets (641,736 ) 88,579 Receivables from AEG partnership - - Security deposit 332,889 (225,904 ) Accounts payable 4,694,025 745,259 Accrued expenses 2,858,450 334,840 Accrued payroll and payroll taxes (69,070 ) (73,542 ) Deferred revenue 764,078 636,790 Operating lease liabilities (465,890 ) (452,759 ) Licensing liabilities 6,250,000 1,500,000 Net cash provided by (used in) operating activities 3,757,717 (4,876,172 ) Cash flows from investing activities Purchase of property and equipment (72,483,650 ) (31,165,063 ) Net cash acquired from acquisition of 13141 BP 74,085 - Net cash used in investing activities (72,409,565 ) (31,165,063 ) Cash flows from financing activities Proceeds from sale of non-controlling interest equity 38,463,367 16,750,000 Distributions to non-controlling shareholders (934,435 ) (531,789 ) Principal payments on long-term debt (313,136 ) (224,386 ) Proceeds from issuance of shares 31,960,250 16,695,180 IPO issued 12,654,100 - Proceeds from exercise of warrants 52 82,600 Payment for personal guarantee on convertible debt (100,000 ) - Acquisition of Treasury Stock (1,500,000 ) - Receipt of short-term promissory note (10,000 ) - Proceeds from municipality promissory note 6,200,000 - Net cash provided by financing activities 86,420,198 32,771,605 Net increase (decrease) in cash and cash equivalents 17,768,350 (3,269,630 ) Cash and cash equivalents, beginning 20,201,104 23,470,734 Cash and cash equivalents, ending $ 37,969,454 $ 20,201,104 Supplemental disclosure of non-cash operating, investing and financing activities: Cash paid for interest $ 406,483 $ 305,169 Property acquired via mortgage $ - $ 4,400,000 Property acquired via short-term promissory note $ 2,000,000 $ - Property acquired via convertible debt $ 10,000,000 $ - Debt discounts - warrants $ 3,000,140 $ - Equity issued for origination fee $ 100,000 $ - Debt discount - suite granted to lender $ 200,000 $ - Land returned in exchange for termination of promissory note payable $ 3,267,000 $ - Right of Use Assets obtained in exchange for operating lease liabilities $ 471,476 $ - View source version on Contacts Media Relations Chloe HoeftVenu Holding Corporation ("VENU")719-895-5470choeft@ Investor Relations Dave GentryRedChip Companies, Inc.1-407-644-4256VENU@ Sign in to access your portfolio
