Vivid Seats, A Leading Secondary Ticketing Marketplace, to Begin Trading on NASDAQ Global Select Market Today

Rhea-AI Summary

Vivid Seats Inc. has secured its listing on the NASDAQ Global Select Market under the symbol SEAT, starting October 19, 2021. The CEO, Stan Chia, expressed excitement over the public listing, emphasizing the company's commitment to enhancing its ticketing marketplace. Additionally, Vivid Seats announced a special dividend of approximately $0.23 per share of Class A Common Stock, with a record date of October 29, 2021, and payment expected shortly thereafter. Established in 2001, Vivid Seats connects fans to live events, offering expansive ticket selections and a rewards program.

Positive

• Successful listing on NASDAQ Global Select Market under SEAT symbol.
• Announcement of a special dividend of $0.23 per share.
• Commitment to enhance ticketing marketplace and shareholder value.

Negative

• None.

CHICAGO, Oct. 19, 2021 (GLOBE NEWSWIRE) -- Vivid Seats Inc. (“Vivid Seats” or the “Company”), 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 that it has been approved for listing on the NASDAQ Global Select Market under the symbol “SEAT.” The Company begins trading at 9:30am ET today, October 19, 2021.

Stan Chia, Chief Executive Officer of Vivid Seats, commented, “Today marks the culmination of months of hard work as we list on the NASDAQ Global Select Market. We are thrilled to join one of the most exciting capital markets in the world and list amongst many notable and leading technology companies. Vivid Seats is committed to becoming the ultimate ticketing marketplace for fans and sellers while connecting people to live events around the country. As we move forward as a public company, we will remain focused on our overarching commitment to deliver quality marketplace services for our customers, as well as building and sustaining long-term shareholder value.”

The Company today also announced a special dividend of approximately $0.23 per share of Class A Common Stock of the Company, with a record date of the close of trading on October 29, 2021. The special dividend is expected to be paid within three business days of the record date.

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, Rolling Stone, and the Los Angeles Clippers. 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 is recognized by Newsweek as America’s Best Company for Customer Service in ticketing. Fans who want to have the best live experiences can start by downloading the Vivid Seats mobile app, going to vividseats.com, or calling at 866-848-8499.

Caution Concerning Forward-Looking Statements
Certain statements made in this document are "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 with respect to the services offered by Vivid Seats and the markets in which it operates, and Vivid Seats’ projected future results. These forward-looking statements generally are identified by the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," “targets”, "may," "will," "should," “would,” “will be,” “will continue,” “will likely result,” "future," "propose," “strategy,” “opportunity” and variations of these words or similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or are not statements of historical matters are intended to identify forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, guarantees, assurances, predictions or definitive statements of fact or probability regarding future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Vivid Seats’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the inability to recognize the anticipated benefits of the business combination with Horizon Acquisition Corporation; the inability to obtain or maintain the listing of Vivid Seats’ shares on NASDAQ Global Select Market following the business combination; costs related to the business combination; the risk that the business combination disrupts current plans and operations, business relationships or business generally; Vivid Seats’ ability to manage growth; Vivid Seats’ ability to execute its business plan and meet its projections; potential disruption in Vivid Seats’ employee retention as a result of the transaction; potential litigation, governmental or regulatory proceedings, investigations or inquiries involving Vivid Seats, including in relation to the business combination; changes in applicable laws or regulations and general economic and market conditions impacting demand for Vivid Seats‘ products and services, and in particular economic and market conditions in the live events industry in the markets in which Vivid Seats operates; and other risks and uncertainties indicated from time to time in the proxy statement/prospectus relating to the business combination, including those under “Risk Factors” therein, and in Vivid Seats’ other filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Vivid Seats assumes no obligation and do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Vivid Seats does not give any assurance that it will achieve its expectations.

Contacts:

Investors
Ashley DeSimone, ICR
Ashley.DeSimone@icrinc.com
646-677-1827

Brett Milotte, ICR
Brett.Milotte@icrinc.com
332-242-4344

Media
Julia Young, ICR
Julia.Young@icrinc.com
646-277-1280

FAQ

What is the significance of Vivid Seats listing on the NASDAQ under SEAT?

Vivid Seats' listing on the NASDAQ under the symbol SEAT signifies its transition to a public company, enhancing visibility and credibility in the stock market.

When will Vivid Seats start trading under the SEAT symbol?

Vivid Seats began trading under the SEAT symbol at 9:30am ET on October 19, 2021.

What is the amount of the special dividend announced by Vivid Seats?

Vivid Seats announced a special dividend of approximately $0.23 per share of Class A Common Stock.

What is the record date for the special dividend from Vivid Seats?

The record date for the special dividend is the close of trading on October 29, 2021.

How has Vivid Seats performed in the ticketing marketplace?

Vivid Seats has established itself as a leading online ticket marketplace, known for connecting fans with a wide selection of live events and offering a rewards program.