Vivid Seats sags as PE sponsor carves stake

Vivid Seats

18/05/2023 15:27

** Vivid Seats Inc's  SEAT.O  shares down 5.7% at $7.76
after online ticket marketplace's secondary offering prices
    ** Co late Weds announced 16 mln shares at $8, 2.7% discount
to last sale, with Citigroup and Morgan Stanley leading the
offering
    ** SEAT on Weds tumbled 14% for stock's biggest one-day
decline since co debuted in Oct 2021 after SPAC merger
    ** Chicago-based private equity firm GTCR was the seller,
cutting its stake from 61.5% to 53.6%, per the prospectus filing
    ** Vivid has ~195.9 mln shares outstanding
    ** With session decline, SEAT up ~6% YTD

 (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))