Colorado Springs-based entertainment and hospitality company VENU raised $13.8 million in gross proceeds in just three days this week, after the company went public on the New York Stock Exchange Wednesday morning.

Colorado Springs-based entertainment, hospitality company VENU goes public

VENU, which develops luxury venues including the 8,000-seat outdoor Ford Amphitheater on the north side of the city, announced Friday it has closed its initial public offering of 1.38 million shares of its common stock at $10 per share. This included 180,000 shares sold from the full exercise of the underwriter’s option to purchase additional shares.

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The company said in a news release this week it plans to use net proceeds from its initial stock sales to help expand business operations. Funds will also be used to further develop company service, fund business promotion activities, and for capital and corporate purposes like general market expansion and the exploration of opening new restaurant, entertainment and music venues, the release said.