Vivid Seats has announced the pricing of a secondary underwritten public offering of 16 million shares of the Company’s Class A common stock by stockholder Hoya Topco, at price to the public of $8 (£6/€7).
The stockholder has also granted the underwriters a 30-day option to purchase up to an additional 2.4 million shares of Class A common stock.
Citigroup and Morgan Stanley are set to serve as joint book-running managers for the offering, while BofA Securities, Deutsche Bank Securities, RBC Capital Markets and William Blair will also serve as book-running managers.
Canaccord Genuity, DA Davidson and Co, Piper Sandler, Raymond James, Academy Securities, Loop Capital Markets, Penserra Securities and Tigress Financial Partners will serve as co-managers.
The shares are being offered pursuant to a registration statement on Form S-1, including a prospectus, that was declared effective by the Securities and Exchange Commission (SEC) in the US.
The offering is expected to close on May 22, with Vivid Seats not set to receive any proceeds from the sale of the shares by the selling stockholder.