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2025-08-26
2025-08-26
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
August
26, 2025
Date
of Report (Date of earliest event reported)
VENU
HOLDING CORPORATION
(Exact
name of registrant as specified in its charter)
Colorado |
|
001-42422 |
|
82-0890721 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(I.R.S.
Employer
Identification
No.) |
1755
Telstar Drive
Suite
501
Colorado
Springs, Colorado 80920
(Address
of principal executive officers) (Zip Code)
(719)
895-5483
(Registrant’s
telephone number, including area code)
Not
applicable
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e- 4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, par value $.001 per share |
|
VENU |
|
NYSE
AMERICAN |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item.
1.01 Entry into a Material Definitive Agreement.
On
August 26, 2025, Venu Holding Corporation (the “Company”), entered into an Underwriting Agreement (the “Underwriting
Agreement”) with ThinkEquity LLC (the “Representative”), as representative of the underwriters named therein (the “Underwriters”),
relating to a firm commitment underwritten public offering (the “Offering”) of 2,500,000 shares of the Company’s common
stock, par value $0.001 per share (“Common Stock”), at a price to the public of $12.00 per share, generating gross proceeds
of $30,000,000. The Company also granted the Representative a 45-day option to purchase up to 375,000 additional shares of Common Stock,
representing 15% of the shares of Common Stock sold in the Offering, on the same terms and conditions for the purpose of covering any
over-allotments in connection with the Offering. The Representative exercised this option in full on August 27, 2026 to purchase 375,000
additional shares of Common Stock.
The
Company conducted the Offering pursuant to a Registration Statement on Form S-1, as amended (File No. 333-289800), which was declared
effective by the Securities and Exchange Commission (the “SEC”) on August 26, 2026 (the “Registration Statement”).
The
Offering closed on August 28, 2025. The net proceeds to the Company from the sale of the shares of Common Stock was approximately $32.0
million, after deducting the underwriting discounts and commissions and other offering expenses payable by the Company. The Company intends
to use the net proceeds from the Offering to fund a portion of the development costs of the Sunset McKinney and the Sunset Broken Arrow,
and for working capital and other general corporate purposes.
The
Underwriting Agreement, among other things, provides for customary indemnification by each of the Company and the Underwriters, severally
and not jointly, for losses or damages arising out of or in connection with the Offering, including for liabilities under the Securities
Act of 1933, as amended, other obligations of the parties and termination provisions. Further, the Underwriting Agreement requires the
Company’s officers and directors to each enter into a “lock-up” agreement that generally prohibits, without the prior
written consent of the Representative and subject to certain exceptions, the sale, transfer or other disposition of securities of the
Company from August 26, 2025, through the date ending thirty days after the date of the Underwriting Agreement. Pursuant to the terms
of the Underwriting Agreement, the Company also agreed not to do the following during that same period, subject to certain exceptions:
(i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any
option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of capital stock
of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company; (ii) file
or caused to be filed any registration statement with the SEC relating to the offering of any shares of capital stock of the Company
or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company; (iii) complete any offering
of debt securities of the Company, other than entering into a line of credit with a traditional bank or the issuance of private capital
debt instruments, securities or obligations in accordance with engagements publicly disclosed by the Company prior to the date of this
Agreement; or (iv) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of capital stock of the Company.
The
Underwriting Agreement also contains customary representations, warranties and covenants made by the Company. The Company made these
representations, warranties, and covenants (i) only for the purpose of entering the Underwriting Agreement, (ii) as of specific dates
identified in the Underwriting Agreement, and (iii) only for the benefit of the Representative. These representations, warranties, and
covenants may be subject to limitations agreed upon by the Company and the Representative. Accordingly, the Underwriting Agreement is
incorporated by reference in this Current Report on Form 8-K only to provide investors with information regarding the terms of the Underwriting
Agreement, and not to provide investors with any other factual information regarding the Company or its business, and should be read
in conjunction with the disclosures in the Company’s periodic reports and other filings with the SEC.
Upon
the closing of the Offering, the Company issued to the Representative, as compensation to the Representative, a warrant for the purchase
of 143,750 shares of Common Stock, which represents 5% of the aggregate shares of Common Stock sold in the Offering (the “Representative’s
Warrant”). The Representative’s Warrant will be exercisable beginning on February 22, 2026, and will expire on August 26,
2030, at a per share exercise price of $15.00, subject to adjustment as set forth in the Representative’s Warrant. The
Representative’s Warrant and the shares of Common Stock issuable upon exercise of the Representative’s Warrant were registered
pursuant to the Registration Statement.
The
foregoing descriptions of the Underwriting Agreement and the Representative’s Warrant do not purport to be complete and are qualified
in entirety by reference to the copy of the Underwriting Agreement and the form of Representative’s Warrant filed herewith as Exhibits
1.1 and 4.1, respectively.
This
Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be
any sale of securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or other jurisdiction.
Item
8.01. Other Events
On
August 26, 2025, the Company issued a press release announcing the pricing of the Offering. The press release is filed as Exhibit 99.1
hereto and is incorporated herein by reference.
On
August 28, 2025, the Company issued a press release announcing the closing of the Offering. The press release is filed as Exhibit 99.2
hereto and is incorporated herein by reference.
Item
9.01 Financial Statements and Exhibits.
Exhibit
Number |
|
Description |
1.1* |
|
Underwriting Agreement, dated August 26, 2025, between the Company and ThinkEquity LLC |
4.1 |
|
Form of Representative’s Warrant Agreement |
10.1
|
|
Form of Lock-Up Agreement (included as Exhibit B to Exhibit 1.1) |
99.1 |
|
Press Release of the Company, dated August 26, 2025 |
99.2 |
|
Press Release of the Company, dated August 28, 2025 |
104 |
|
Cover page Interactive Data File (embedded within the Inline XBRL document) |
* |
Certain
schedules, exhibits and similar attachments have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company hereby undertakes
to furnish copies of such omitted materials supplementally upon request by the Securities and Exchange Commission. |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
Venu
Holding Corporation |
|
|
|
Dated:
August 28, 2025 |
By: |
/s/
JW Roth |
|
|
JW
Roth |
|
|
Chief
Executive Officer and Chairman |