Aureus Greenway owns two Orlando-area golf courses, but AGH is no longer just a golf-course stock: the thesis now turns on the pending Powerus drone-defense merger, a $20M bridge note to the target, recent private placements, controlled voting power and a large warrant/resale overhang.
References
Sources used in this report
SEC datasetSEC company tickers exchange dataset2026-05-14 · Issuer name, ticker, CIK and Nasdaq listing confirmation.SEC APISEC submissions for Aureus Greenway2026-05-14 · Filing chronology, latest 10-K, latest 10-Q, current reports, prospectus and information statement.Annual reportFY2025 Form 10-K2026-03-31 · Golf-course assets, business model, course metrics, seasonality, revenue mix, competition, renovations and FY2025 financials.Quarterly reportQ1 2026 Form 10-Q2026-05-12 · Q1 revenue, operating costs, cash, Powerus note investment, share counts and cash flow.Merger agreementPowerus merger agreement2026-03-06 · Exchange ratio, merger consideration, earn-outs, closing conditions and Nasdaq listing condition.SEC-filed press releasePowerus merger announcement2026-03-09 · Powerus business description, expected PUSA ticker and stated strategic rationale.Convertible notePowerus convertible note2026-03-20 · $20M principal, 10% interest, maturity, 14% default rate and $1,979 conversion price.ProspectusSeptember 2025 resale prospectus2025-09-17 · July 2025 placement, warrant overhang, controlled voting power and historical Nasdaq deficiency disclosure.Industry sourceNational Golf Foundation golf industry facts2026-05-14 · U.S. golf participation, course supply and rounds-played context.Market sourceVisit Orlando data and trends2026-05-14 · Orlando visitor, airport and hotel-market context for local tourism exposure.