RBAC - SPAC RedBall Seat Geek terminate merger deal over unfavorable market conditions

June, 01 2022 11:28 AM RedBall Acquisition Corp. Class A

SPAC RedBall Acquisition Corp. (RBAC) (RBACU) and ticketing platform SeatGeek have mutually agreed to terminate their planned merger agreement due to unfavorable market conditions. In a statement, the companies said that as the market appeared to be unfavorable for growth technology businesses, they have decided that SeatGeek should remain a private company at this time. RedBall, which is sponsored by an affiliate of RedBird Capital Partners, and SeatGeek announced plans to merge in October. The deal pegged the initial enterprise value of the combined company at around $1.35B. In January, reports emerged that ticketing platform StubHub was considering going public via a direct listing.

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SPAC RedBall, Seat Geek terminate merger deal over unfavorable market conditions

Company Name:	RedBall Acquisition Corp. Class A
Stock Symbol:	RBAC
Market:	NYSE

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