Vivid Seats said to be in talks to go public via blank-check IPO
The SPAC craze has caught up with the Chicago-based online ticket seller, whose private equity backers include Chicago’s GTCR.
(Bloomberg) — Vivid Seats, a digital ticketing marketplace that competes with StubHub, is in advanced talks to go public via a merger with Horizon Acquisition Corp., a blank-check firm led by Todd Boehly, according to people with knowledge of the matter.
Horizon has begun discussions with investors about raising equity to support a transaction set to reduce Vivid Seats’ debt and value the combined company at about $2.5 billion, one of the people said. Vivid Seats’ private equity backers GTCR and Vista Equity Partners are set to roll their ownership stakes into the new entity, the person said.
