Horizon Acquisition announced today that Eldridge Industries, an affiliate of Horizon’s sponsor, signed a deal with DraftKings, which will make a private placement PIPE investment in connection with the closing of the pending merger between Horizon and event ticket platform Vivid Seats.
The investment will be part of the previously announced PIPE financing for the transaction, with DraftKings assuming a portion of Eldridge’s commitment. The closing of the investment is conditioned upon completion of the business combination between Horizon and Vivid Seats, which is subject to approval of Horizon’s shareholders.
A vote on the merger is expected today. Read more.
