Vivid Seats drops as top investor to sell stock

Vivid Seats

07/12/2023 14:03

** Shares of Vivid Seats  SEAT.O  drop 9.2% to $7.39
premarket after online ticket broker launches secondary offering
     ** Co late Weds announced 18.5 mln shares to be sold by
private equity firm GTCR
     ** Sale would take Chicago-based GTCR's stake from 48.5% to
40.1%, or 87.3 mln shares, per the prospectus filing
     ** Citigroup, Morgan Stanley and BofA leading the offering,
slated to price Thurs after market close
     ** SEAT shares have rallied 30% since co on Nov 7 posted Q3
rev beat of $188 mln, up 20% yr/yr, boosted 2023 rev guidance
and announced Vegas.com acquisition
     ** Avg rating among 11 analysts on the stock is "buy" and
median PT is $10, per LSEG data

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))