Loan & DebtJul 23, 2026, 06:11 AM
Venu Secures $20M Bridge Loan from Ryan, LLC for Amphitheater Projects
AI Summary
Venu Holding Corp (VENU) secured a $20 million secured promissory note (bridge loan) from Ryan, LLC on July 17, 2026. The loan, with an 18% annual interest rate, is intended to fund ongoing construction costs for its in-development amphitheater projects, including the Sunset Amphitheater in McKinney, Texas. The loan matures in 90 days and is secured by various company properties and assets, with CEO J.W. Roth providing a personal guaranty. This financing bridges the company to expected permanent financing in the third quarter of fiscal 2026, aiming to advance expansion without shareholder dilution.
Key Highlights
- Secured a $20,000,000 bridge loan from Ryan, LLC.
- Up to an additional $500,000 for lender's third-party fees capitalized into principal.
- Interest accrues at 18% per annum, payable in kind through monthly capitalization.
- Maturity date is 90 days after the July 17, 2026 closing date.
- Proceeds will fund construction costs for in-development amphitheater projects, including Sunset Amphitheater in McKinney, Texas.
- Loan is secured by properties in El Paso, Centennial, Colorado Springs, and other assets.
- CEO J.W. Roth provided a personal guaranty for the loan obligations.
Price Impact
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