SEATW - Vivid Seats Announces Closing of Secondary Offering and Share Repurchase Including Full Exercise of the Underwriters' Option to Purchase Additional Shares | Benzinga
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 ...