Notes Dwell, the leisure firm based by Colorado Springs businessman J.W. Roth that is proposed an 8,000-seat outside amphitheater on the town’s north facet, goals to develop into a publicly traded firm this yr as a part of a long-term progress technique that features a number of new venues.
In an announcement Monday, Notes Dwell mentioned it plans to boost $22.5 million via a pre-initial public providing — a sale of inventory shares earlier than they’re listed on a public alternate. The corporate has focused 1.5 million shares to be bought at $15 per share, it mentioned.
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8,000-seat outside amphitheater deliberate in Colorado Springs: Purple Rocks south?
The choice by Notes Dwell to go public and promote inventory is not meant to boost cash to fund its present crop of leisure venues in Colorado Springs and elsewhere, Roth mentioned in an interview earlier than Monday’s announcement.
As a substitute, issuing inventory and elevating $22.5 million in capital would enable that cash to be added to actual property holdings and different Notes Dwell belongings — producing a stability sheet of at the least $50 million and serving to the corporate qualify to be listed on the nationwide Nasdaq inventory alternate, Roth mentioned.
As soon as on Nasdaq, present shareholders might promote inventory for money, new shareholders might purchase into the corporate and Notes Dwell would have a better time elevating capital down the street because it grows the variety of its leisure venues, Roth mentioned.
Notes Dwell plans to function in a half-dozen markets by the top of 2023 and broaden to 6 further markets over the following 5 years, the corporate says.
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Notes Dwell, Roth mentioned, already has “inside financing” in place for its $40 million amphitheater, to be referred to as The Sundown, which can be a part of the Polaris Pointe mixed-use improvement southeast of Interstate 25 and North Gate Boulevard in northern Colorado Springs. It is envisioned as a house for live shows, top-name music performers and leisure acts.
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Roth hopes to acquire permits to start web site preparation work for The Sundown in just a few weeks and is concentrating on a completion of the venue by late summer time 2023 in order that exhibits can happen earlier than the top of that yr. A full yr of amphitheater occasions could be focused for 2024, he mentioned.
Roth mentioned he is already labored to line up further parking for the amphitheater.
He mentioned he now has agreements in place with Academy College District 20, the Classical Academy constitution faculty and Compassion Worldwide ministry to the south and Bass Professional Retailers, a close-by Polaris Pointe retail anchor. Their parking heaps would supply greater than 3,000 off-site areas for concertgoers, who could be shuttled to the venue, Roth mentioned.
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The Sundown amphitheater would be a part of Roth’s close by Boot Barn Corridor at Bourbon Brothers indoor music venue at Polaris Pointe, and his Bourbon Brothers Smokehouse & Tavern and Buttermilk Breakfast & Burgers restaurant.
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Roth mentioned Notes Dwell additionally has financing lined up for a multi-million greenback leisure campus that can cowl a metropolis block in downtown Gainesville, Ga., northeast of Atlanta. Building has began on that venture, which is scheduled to open within the first quarter of 2023.
An 18-acre multi-concept venture is also funded and deliberate in Murfreesboro, Tenn., south of Nashville, in keeping with Roth. A Bourbon Brothers Smokehouse and Tavern, a 20,000-square foot Boot Barn Corridor and a 4,500-seat outside amphitheater could be a part of that improvement.
In its pre-initial public providing, Notes Dwell plans to promote shares earlier than Sept. 1 in a non-public placement and earlier than the corporate submits an utility to the federal Securities and Alternate Fee within the fourth quarter, Roth mentioned.
That utility, often called an S-1 kind, is a part of Notes Dwell’s effort to go public and is required in order that inventory shares may be registered with the SEC and finally traded publicly. The S-1 additionally lays out the usage of inventory sale proceeds, the corporate’s enterprise mannequin and different monetary particulars, in keeping with on-line posts by monetary consultants.
The inventory providing for the pre-initial public providing is being dealt with by Donald Capital, a New York-based funding financial institution, Roth mentioned. About 500,000 of the 1.5 million shares have already got been spoken for by traders and the remainder ought to promote rapidly, he predicted.
Bereaved parents saw their hopes for change dashed after a bill meant to protect children from sexual predators and drug dealers online died in the Colorado state legislature last month.
Several of those parents had helped shape the bill, including Lori Schott, whose 18-year-old daughter Annalee died by suicide in 2020 after consuming content on TikTok and Instagram about depression, anxiety and suicide.
“When the legislators failed to vote and pushed it off onto some fake calendar date where they’re not even in session, to not even have accountability for where they stand – as a parent, it’s a slap in the face,” said Schott, who identifies as a pro-second amendment Republican. “It’s a slap in the face of my daughter, and to other kids that we’ve lost.”
Had the legislation passed, it would have required social media platforms like Facebook, Instagram and TikTok to investigate and take down accounts engaged in gun or drug sales or in the sexual exploitation or trafficking of minors. It also mandated the creation of direct hotlines to tech company personnel for law enforcement and a 72-hour response window for police requests, a higher burden than under current law.
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Additionally, platforms would have had to report on how many minors used their services, how often they did so, for how long and how much those young users engaged with content that violated company policies. Several big tech firms registered official positions on the bill. According to Colorado lobbying disclosures, Meta’s longtime in-state lobby firm, Headwater Strategies, is registered as a proponent for changing the bill. Google and TikTok also hired lobbyists to oppose it.
‘[Legislators] chose big tech over protecting children and families.’ Illustration: Andrei Cojocaru/Guardian
“We’re just extremely disappointed,” said Kim Osterman, whose 18-year-old son Max died in 2021 after purchasing drugs spiked with fentanyl from a dealer he met on Snapchat. “[Legislators] chose big tech over protecting children and families.”
Protections for users of social media (SB 25-086) passed both chambers before being vetoed on 24 April by governor Jared Polis, a Democrat, who cited the bill’s potential to “erode privacy, freedom and innovation” as reasons for his veto. Colorado’s senate voted to override the veto on 25 April, yet those efforts fell apart on 28 April when the state house opted to delay the vote until after the legislative session ended, effectively blocking an override and keeping the bill alive.
The bill originally passed the senate by a 29-6 vote and the house by a 46-18 margin. On 25 April, the senate voted 29-6 to override Polis’s veto. Lawmakers anticipated that the house would take up the override later that day. At the time, according to those interviewed, there appeared to be enough bipartisan support to successfully overturn his veto.
“It was an easy vote for folks because of what we were voting on: protecting kids from social media companies,” said the senator Lindsey Daugherty, a Democrat and a co-sponsor of the bill. She said she urged house leadership to hold the vote Friday, but they declined: “The speaker knew the governor didn’t want us to do it on Friday, because they knew we would win.”
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The parents who advocated for the bill attribute its failure to an unexpected, 11th-hour lobbying campaign by a far-right gun owners’ association in Colorado. Two state legislators as well as seven people involved in the legislative process echoed the parents’ claims.
An abnormal, last-minute campaign disrupts bipartisan consensus
Rocky Mountain Gun Owners (RMGO) cast the bill as an instrument of government censorship in texts and emails over the legislation’s provisions against “ghost guns”, untraceable weapons assembled from kits purchased online, which would have been prohibited.
RMGO launched massive social media and email campaigns urging its 200,000 members to contact their legislators to demand they vote against the bill. A source with knowledge of the workings of the Colorado state house described the gun group’s social media and text campaigns, encouraging Republicans voters to contact their legislators to demand opposition to the bill, as incessant.
“[Legislators] were getting countless calls and emails and being yelled at by activists. It was a full-fledged attack. There was a whole campaign saying: ‘This is a government censorship bill,’” they said.
The group’s actions were instrumental in a campaign to deter house Republicans from voting against the veto, resulting in the quashing of the bill, and unexpected from an organization that had been facing funding shortfalls, according to 10 people interviewed who were involved in the design of the bill and legislative process. Sources in the Colorado state house spoke to the Guardian on condition of anonymity out of fear of reprisal from RMGO.
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The house had delayed the vote until 28 April, which allowed RMGO time to launch a campaign against the bill over the weekend. When lawmakers reconvened Monday, the house voted 51-13 to postpone the override until after the legislative session ended – effectively killing the effort.
‘It was a full-fledged attack. There was a whole campaign saying: “This is a government censorship bill.”’ Illustration: Andrei Cojocaru/Guardian
The gun activists’ mass text message campaign to registered Republican voters asserted the social media bill would constitute an attempt to “compel social media companies to conduct mass surveillance of content posted on their platforms” to search for violations of Colorado’s gun laws, describing the bill as an attack on first and second amendment rights, according to texts seen by the Guardian.
A familiar, aggressive foe
Founded in 1996, RMGO claims to have a membership of more than 200,000 activists. It is recognized as a far-right group that takes a “no-compromise” stance on gun rights. Dudley Brown, its founder and leader, also serves as the president of the National Association for Gun Rights, which positions itself further to the right than the National Rifle Association (NRA). RMGO has mounted criticism against the NRA for being too moderate and politically compromising. Critics have described RMGO as “bullies” and “extremists” because of its combative tactics, which include targeting and smearing Democrats and moderate Republicans. The group did not respond to requests for comment on its legislative efforts.
RMGO is a well-known presence at the Colorado capitol, typically opposing gun-control legislation. Daugherty described its typical campaign tactics as “scary”. She got rid of her X account after being singled out by the group over her work on a bill to ban assault weapons earlier this year.
“When we were running any of the gun bills at the capitol, they put my and some other legislators’ faces on their websites,” she said. A screenshot of a tweet from RMGO showed Daugherty with a red “traitor” stamp on her forehead.
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The group’s campaign resulted in the spread of misinformation about the bill’s impact on gun ownership rights, sources involved in the legislative process said.
“The reason I was in support of the bill, and in support of the override, was it has to do with child trafficking and protecting the kids,” said the senator Rod Pelton, a Republican, who voted in favor of the veto override in the senate. “I just didn’t really buy into the whole second amendment argument.”
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The bill had enjoyed the backing of all 23 of Colorado’s district attorneys as well as bipartisan state house support.
RMGO’s late-stage opposition to the social media bill marked a break from its usual playbook. The group generally weighs in on legislation earlier in the process, according to eight sources, including two of the bill’s co-sponsors, Daugherty and the representative Andy Boesenecker.
“They really ramped up their efforts,” Boesenecker said. “It was curious to me that their opposition came in very late and appeared to be very well funded at the end.”
In recent years, RMGO group had been less active due to well-documented money problems that limited its ability to campaign on legislative issues. In a 2024 interview, the group’s leaders stated plainly that it struggled with funding. Daugherty believes RMGO would not have been able to embark on such an apparently costly outreach campaign without a major infusion of cash. A major text campaign like the one launched for SB-86 was beyond their financial capacity, she said. Others in Colorado politics agreed.
“Rocky Mountain Gun Owners have not been important or effective in probably at least four years in the legislature. They’ve had no money, and then all of a sudden they had tons of money, funding their rise back into power,” said Dawn Reinfeld, executive director of Blue Rising Together, a Colorado-based non-profit focused on youth rights.
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The campaign made legislators feel threatened, with primary elections in their districts over the weekend, Daugherty said, particularly after accounts on X, formerly Twitter, bombarded the bill’s supporters.
‘The bill gave me hope that Avery’s legacy would be to help. So when it didn’t pass, it was pretty soul-crushing.’ Illustration: Andrei Cojocaru/Guardian
“Folks were worried about being primaried, mostly the Republicans, and that’s kind of what it came down to,” Daugherty said.
Aaron Ping’s 16-year-old son Avery died of an overdose in December after buying what he thought was ecstasy over Snapchat and receiving instead a substance laced with fentanyl. Ping saw the campaign against the bill as an intentional misconstrual of its intent.
“It was looking like the bill was going to pass, until all this misinformation about it taking away people’s gun rights because it addresses people buying illegal shadow guns off the internet,” he said.
Ping gave testimony in support of the bill in February before the first senate vote, alongside other bereaved parents, teens in recovery and a district attorney.
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“The bill gave me hope that Avery’s legacy would be to help. So when it didn’t pass, it was pretty soul-crushing,” said Ping.
States take up online child-safety bills as federal lawmakers falter
Several states, including California, Maryland, Vermont, Minnesota, Hawaii, Illinois, New Mexico, South Carolina and Nevada, have introduced legislation aimed at improving online safety for children in the past two years. These efforts have faced strong resistance from the tech industry, including heavy lobbying and lawsuits.
Maryland became the first state to successfully pass a Kids Code bill, signing it into law in May 2024. But the victory may be short-lived: NetChoice, a tech industry coalition representing companies including Meta, Google and Amazon, quickly launched a legal challenge against the measure, which is ongoing.
Meanwhile, in the US federal government, the kids online safety act (Kosa), which had wound its way through the legislature for years, died in February when it failed to pass in the House after years of markups and votes. A revamped version of the bill was reintroduced to Congress on 14 May.
In California, a similar bill known as the age-appropriate design code act, modeled after UK legislation, was blocked in late 2023. A federal judge granted NetChoice a preliminary injunction, citing potential violations of the first amendment, which stopped the law from going into effect.
One person was killed and four were injured in a Sunday morning crash on Interstate 25 in Denver, police said.
The Denver Police Department first posted about the two-vehicle crash on northbound I-25 near 20th Street just before 4 a.m. Sunday.
One person died from their injuries at the scene of the crash and paramedics took four to the hospital, three with serious injuries, police said.
Northbound I-25 was temporarily closed Sunday for the crash cleanup and investigation, but all lanes had reopened before 9 a.m., according to the Colorado Department of Transportation.
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Information about the cause of the crash was not available Sunday morning.
This is a developing story and may be updated.
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EL PASO COUNTY, Colo. (KKTV) – Police are looking for a suspect that reportedly assaulted an officer on Friday.
The Palmer Lake Police Department said an officer was doing a traffic stop around 11:38 p.m. on Friday near Highway 105 and Peak View Boulevard. During the stop, they said a dark blue sedan with a white rear fender sped by and someone in that car threw a bottle at the officer while yelling obscenities.
Police said that officer got a partial description of the passenger, who was described to be a white man wearing a black shirt. Police said the suspect’s vehicle headed toward the Monument area, near the McDonald’s off Highway 105.
That suspect then reportedly returned to the Palmer Lake area, speeding past the officer again.
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Police said they tried to stop the vehicle, but the suspect evaded, heading south on I-25.
If you have any information or footage, you can call the El Paso County non-emergency line at (719) 390-5555. You can also submit an anonymous tip with Crime Stoppers at (719) 634-STOP.