Venu Holding Completes Aramark Investment, Cuts Debenture Principal

Venu Holding Corporation (VENU) closed the second tranche of an additional equity investment from Aramark Sports and Entertainment Services, LLC on October 15, 2026. The transaction completes the purchase of 667 shares of Series B 4% Cumulative Convertible Preferred Stock, fulfilling a commitment first disclosed in January 2026.

The company also reduced the principal amount of a Senior Secured Convertible Debenture by $12,500,000. Effective September 30, 2026, Venu and the institutional investor purchased the debenture agreed to apply a holdback amount to repay half of the original $25,000,000 principal at par. This action lowered the remaining debt balance to $12,500,000 and eliminated the associated payment premium for that portion of the loan.

The debt reduction automatically adjusted the equity instruments tied to the debenture. The number of common stock shares underlying the investor warrants dropped from 1,000,000 to 500,000, while placement agent warrants decreased from 200,000 to 100,000 shares. Consequently, the principal portion of each monthly installment payment fell from $5,000,000 to $2,500,000. Venu made its first installment payment in cash on October 14, 2026, for $2,875,000. The company expects to satisfy the remaining installments in cash on their scheduled due dates.

Simultaneously, Venu announced the departure of William Hodgson as President. Hodgson ceased serving in that role immediately on October 13, 2026, following a mutual agreement with the company. He will remain an employee until December 1, 2026, to assist with the transition of his responsibilities. The company stated that the departure was not the result of any disagreement regarding policies or practices. No successor has been appointed; other members of the current management team and recently added personnel focused on content procurement will assume his duties. Venu expects to provide severance payments over a 90-day period beginning December 1, though final arrangements have not been definitively determined.