Aureus Greenway (AGH) Plans to Raise $19 Million in November 11th IPO

Aureus Greenway (AGH) expects to raise $19 million in an IPO on the week of November 11th, IPO Scoop reports. The company will issue 3,800,000 shares at $4.00-$6.00 per share.

In the last twelve months, Aureus Greenway generated $3.6 million in revenue and $400,000 in net income. Aureus Greenway has a market-cap of $69.4 million.

Dominari Securities and Revere Securities acted as the underwriters for the IPO.

Aureus Greenway provided the following description of their company for its IPO: “(Incorporated in Nevada) We own and operate two public golf country clubs in Florida that each features a golf-club, consisting of over 289 acres of multi-service recreational property. Our golf country clubs include two golf-courses with over 13,000 yards of combined fairways, clubhouses boasting food and beverage options, aquatic golf ranges, and pro shops to assist any level of golfer. We believe our golf country clubs are a serene combination of approachable golf and nature that are designed to appeal to local residents and tourists alike. The property underlying both of our golf country clubs and the owner of that property are part of and subject to the Association, a not-for-profit corporation homeowners association. Leveraging our two golf country clubs, we plan to (i) continue to develop customer loyalty and capture a greater share of the golf-players who live in,. or visit the greater Orlando region and (ii) increase our revenue from the operation of our golf country clubs. We believe the quality of our golf-courses and the amenities we offer will continue to enhance our ability to attract and retain golf-players across a number of demographic groups and skill levels Each of our golf country clubs is organized into four principal business sectors: (i) golf recreation, retail golf products, and equipment and facilities rental, (ii) membership dues, (iii) food and beverage services. and (iv) ancillary services and amenities. Each of the golf-courses featured at our golf country clubs present a different set of physical and strategic challenges depending on the layout and where we place the position of a ball-hole and flagstick on a green from time to time during the golf-season. We believe this variation helps to create an enjoyable experience for our customers, no matter how many times they have visited our golf-courses before. We acquired both of our golf country clubs in 2014, and since then, our management team has grown alongside the business. Similarly, our revenue has increased steadily during the last five years due to efforts from our greens superintendent as well as the executive management team. We believe recent capital improvements at both golf country clubs will help the facilities and our golf-courses progressively grow in stature and reputation in order to keep up to date with future infrastructure needs that can meet future demand and structural wherewithal. As a result of these upgrades and our management’s plans for growth, we believe they have gained valuable experience and are well-equipped to take on additional assets and continue to enhance the performance of both golf country clubs since our initial acquisition in 2014. We are the manager and operator of golf country clubs just south of Orlando, Florida. We believe that our golf country clubs are designed to appeal to a wide-ranging population that attracts customers across a number of local and tourism-driven demographic groups. We believe the combination of our geographic location and approachable golf-courses allow us to capture a greater share of a broad base of customers’ discretionary leisure spending. We believe our golf country clubs are designed to provide customers with lush and serene backdrops where they can enjoy leisure and social activities. Both of our golf-courses are conveniently located just south of Orlando, Florida and both Remington and Kissimmee Bay are an approximate 23-minute drive to popular attractions such as Walt Disney World Resort. Similarly, both our golf-courses are easily accessible via major highways and in close proximity to Orlando International Airport. According to Frost & Sullivan Limited, who we commissioned in December 2023 to produce the “The Golf Country Clubs Market Research Report” that covers and analyzes the golf club industry for a period of 2018-2022 (the “Frost & Sullivan Report”), Orlando, Florida is one of the most visited cities in the world for leisure travelers with domestic and international visitors combined rising from 111.8 million in 2018 to 137.4 million in 2022. Note: Net income and revenue are for the year that ended Dec. 31, 2023. (Note: Aureus Greenway filed its S-1 on June 20, 2024, and disclosed the terms for its IPO: 3.75 million shares at a price range of $4.00 to $6.00 to raise $18.75 million.  Aureus Greenway is offering 3.0 million shares and the selling shareholder is offering 0.75 million shares – or 750,000 shares – according the prospectus. The company will not receive any proceeds from the sale of the selling shareholders’ stock.) “.

Aureus Greenway was founded in 2014 and has 53 employees. The company is located at 2995 Remington Boulevard Kissimmee, Florida 34744 Tel: (407) 344 4004 and can be reached via phone at (407) 344 4004 or on the web at http://www.aureusgreenway.com/.