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 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 Seats
Kate.Africk@vividseats.com

Media

Julia Young, Vivid Seats
Julia.Young@vividseats.com