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Vivid Seats Announces Successful Secondary Offering and Share Repurchase, Demonstrating Continued Growth and Financial Resilience
In a recent press release, Vivid Seats Inc. (NASDAQ: SEAT) celebrated the closing of its underwritten secondary offering, which involved the sale of 20,500,000 shares of its Class A common stock. This offering signifies the company s commitment to expanding its marketplace and enhancing its ability to connect millions of buyers with thousands of ticket sellers across a vast array of events.
The secondary offering included 18,500,000 shares that were made available to the public at a price of $6.50 per share. Additionally, Vivid Seats purchased 2,000,000 shares from the underwriters at a slightly lower price of $6.24 per share, taking into account underwriting discounts and commissions. The closing of the offering also featured the full exercise of the underwriters option to purchase an additional 3,075,000 shares from the selling stockholder, Hoya Topco, LLC. This exercise, which occurred on December 8, 2023, expanded the total offering size to an impressive 23,575,000 shares.
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