Horizon Acquisition announced that its shareholders voted in favor of merging with online ticket platform Vivid Seats.
Approximately 95.5% of the votes cast at the meeting were in favor of the business combination, the SPAC said in a news release.
No word on redemptions, if any, although the SPAC’s shares are trading near the 52-week high of $12.28, making significant redemptions unlikely. Horizon Acquisition announced yesterday that DraftKings would take over a portion of the PIPE financing on the deal, which is expected to provide a total of approximately $769 million of gross proceeds.
The transaction is expected to close Oct. 18. Common stock and warrants of Vivid Seats are expected to begin trading Oct. 19 on the Nasdaq under SEAT and SEATW. Read more.
