Ticket selling platform Vivid Seats disclosed today that its registration statement on Form S-4 outlining merger terms with Horizon Acquisition has been declared effective by the SEC. Horizon set an Oct. 14 meeting for shareholders to vote on the deal, which values the combined companies at about $2.5 billion.
Announced in April, the transaction would provide approximately $769 million of gross proceeds to Vivid Seats, including a $225 million PIPE by institutional investors, including Fidelity Management & Research and the SPAC’s sponsor, private investment firm Eldridge Industries. Horizon has $544 million of cash in its trust account.
Eldridge has also committed to make an additional investment in the PIPE at $10 per share to backstop any shareholder redemptions. Read more.
