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Florida golf club operator Aureus Greenway Holdings files and sets terms for a $19 million IPO

June 20, 2024
AGH

Aureus Greenway Holdings, which owns and operates two public golf country clubs in Florida, filed on Thursday with the SEC to raise up to $19 million in an initial public offering.

The Kissimmee, FL-based company plans to raise $19 million by offering 3.8 million shares (20% secondary) at a price range of $4 to $6. At the midpoint of the proposed range, Aureus Greenway Holdings would command a market value of $119 million.

Aureus Greenway owns and operates two public golf country clubs in Florida, both of which the company acquired in 2014. Each club consists of over 289 acres of multi-service recreational property featuring over 13,000 yards of combined fairways, clubhouses serving food and beverage options, aquatic golf ranges, and pro shops. The property underlying both of its golf country clubs and the owner of those properties are part of and subject to the Association, a not-for-profit corporation homeowners association.

Aureus Greenway Holdings was founded in 2014 and booked $3 million in revenue for the 12 months ended March 31, 2024. It plans to list on the Nasdaq under the symbol AGH. The company filed confidentially on January 31, 2024. Revere Securities is the sole bookrunner on the deal.