Vivid Seats Announces Closing of Secondary Offering and Share Repurchase, Including Full Exercise of the Underwriters’ Option to Purchase Additional Shares
13 12월 2023 - 6:05AM
Vivid Seats Inc. (NASDAQ: SEAT) (“Vivid Seats”), a leading
marketplace that utilizes its technology platform to connect
millions of buyers with thousands of ticket sellers across hundreds
of thousands of events each year, today announced the closing of
the previously announced underwritten secondary offering of
20,500,000 shares of its Class A common stock from Hoya Topco, LLC
(the “selling stockholder”). The sale included 18,500,000 shares
offered to the public at a price of $6.50 per share, and an
additional 2,000,000 shares purchased by Vivid Seats from the
underwriters at a price of $6.24 per share (the public offering
price, less underwriting discounts and commissions). The closing
also included the full exercise of the underwriters’ option to
purchase an additional 3,075,000 shares from the selling
stockholder, which option was exercised on December 8, 2023,
bringing the total offering size to 23,575,000 shares.
Citigroup, Morgan Stanley and BofA Securities
served as joint book-running managers for the offering. Deutsche
Bank Securities, RBC Capital Markets and William Blair served as
book-running managers. Canaccord Genuity, Raymond James, The
Benchmark Company, Loop Capital Markets, Tigress Financial
Partners, Penserra Securities LLC and Academy Securities served as
co-managers for the offering.
The offering was made pursuant to a registration
statement on Form S-1 (File No. 333-260839), including a
prospectus, that was declared effective by the Securities and
Exchange Commission (the “SEC”). Copies of the prospectus
supplement and the accompanying prospectus and prospectus
supplements that form a part of the registration statement may be
obtained on the SEC’s website, www.sec.gov, or from Citigroup, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717 (telephone 800-831-9146); Morgan Stanley & Co.
LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attn:
Prospectus Department; or BofA Securities, NC1-022-02-25, 201 North
Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department
or by email at dg.prospectus_requests@bofa.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Vivid Seats
Founded in 2001, Vivid Seats is a leading online
ticket marketplace committed to becoming the ultimate partner for
connecting fans to the live events, artists, and teams they love.
Based on the belief that everyone should “Experience It Live,” the
Chicago-based company provides exceptional value by providing one
of the widest selections of events and tickets in North America and
an industry leading Vivid Seats Rewards program where all fans earn
on every purchase. Vivid Seats has been chosen as the official
ticketing partner by some of the biggest brands in the
entertainment industry including ESPN, New York Post, and the Los
Angeles Dodgers. Vivid Seats also owns Vivid Picks, a daily fantasy
sports app. Through its proprietary software and unique technology,
Vivid Seats drives the consumer and business ecosystem for live
event ticketing and enables the power of shared experiences to
unite people. Vivid Seats has been recognized by Newsweek as one of
America’s Best Companies for Customer Service in ticketing.
Contacts:
Investors
Kate Africk, Vivid
SeatsKate.Africk@vividseats.com
Media
Julia Young, Vivid
SeatsJulia.Young@vividseats.com
Vivid Seats (NASDAQ:SEAT)
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