Business
Vivid Seats Announces Closing of Secondary Offering and Share Repurchase, Including Full Exercise of the Underwriters’ Option to Purchase Additional Shares
CHICAGO, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Vivid Seats Inc. (NASDAQ: SEAT) (“Vivid Seats”), a leading marketplace that utilizes its technology platform to
About this update from Vivid Seats Inc.
[{"type":"text","content":"CHICAGO, Dec. 12, 2023 (GLOBE NEWSWIRE) -- 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 [email protected]. 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, solicitatio...