Vivid Seats Prices Secondary Offering 18.5 Mln Shares

(RTTNews) - Vivid Seats Inc. (SEAT), an online secondary marketplace for tickets, on Friday announced the pricing of its secondary offering of 18.5 million shares by Hoya Topco, LLC, the selling stockholder at $6.50 per share.

Vivid Seats will not receive any proceeds from the sale of the shares by the selling stockholder.

Further, the company said it has agreed to purchase an incremental two million of common stock from the underwriters at the same price bringing the total offering size to 20.5 million shares.

The selling stockholder has also granted the underwriter a 30-day option to purchase up to an additional 3.075 million shares.

The offering is expected to close on or about December 12, with Citigroup, Morgan Stanley and BofA Securities serving as the joint book-running managers for the offering.

In pre-market activity, Vivid Seats shares are trading at $6.72, down 0.59% on the Nasdaq.