Vivid Seats Announces Successful Debt Refinancing

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CHICAGO, Feb. 3 28, 2022 (GLOBE NEWSWIRE) — Vivid Seats Inc. (NASDAQ: SEAT) (“Vivid Seats” or the “Company”), a leading marketplace that uses its technology platform to connect millions of shoppers to thousands ticket sellers for hundreds of thousands of events each year, today announced the successful refinancing (the “Transaction”) of its existing credit facility.

Vivid Seats amended and extended its existing credit agreement and placed a new 7-year $275 million Term Loan B and a new 5-year $100 million senior revolving credit facility. Term Loan B will carry an interest rate of SOFR + 3.25% and a floor of 0.50% compared to the previous facility which was priced at LIBOR + 3.50% with a floor of 1.00 %. The Company will maintain net cash while increasing total available liquidity through full access to the unused $100 million revolving credit facility.

“As we begin our journey as a public company, we are pleased to enhance our financial flexibility by extending the term of our outstanding debt, increasing liquidity through a new revolving credit facility and reducing annual debt service,” said Lawrence Fey, Chief Financial Officer. Living Seats Officer. “We believe this refinancing positions Vivid Seats to continue to invest in our future growth.”

About Vivid Seating
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 “the live experience”, the Chicago-based company delivers exceptional value by offering one of the widest selections of events and tickets in North America and a rewards program Industry leading Vivid Seats where every fan wins 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 enterprise ecosystem for live event ticketing and enables the power of shared experiences to unite people. Vivid Seats is recognized by Newsweek as one of America’s Best Companies for Ticketing Customer Service. Fans looking for the best live experiences can get started by downloading the Vivid Seats mobile app, visiting vividseats.com, or calling 866-848-8499.

Caution Regarding Forward-Looking Statements
Certain statements made herein 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 refinancing of the Vivid Seats credit facility, the markets which the company operates, and the projected future results of Vivid Seats. These forward-looking statements are generally identified by the words “estimate”, “project”, “expect”, “anticipate”, “anticipate”, “plan”, “intend”, “believe”, “seek “, “target”, “may”, “should”, “should”, “would”, “will”, “continue”, “probably result”, “future”, “propose”, “strategy”, “opportunity” and variations of such words or similar phrases (or negative versions of such words or phrases) 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 your information only and are not intended to serve as, and should not be relied on by, any investor as guarantees, assurances, predictions or definitive statements of fact or probability regarding performance, conditions or future results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond Vivid Seats’ control, which could cause actual results to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or results include the failure to recognize the anticipated benefits of the business combination with Horizon Acquisition Corporation; the inability to obtain or maintain the listing of shares of Vivid Seats on the NASDAQ Global Select Market following the business combination; costs related to the business combination; the risk that the business combination will disrupt ongoing plans and operations, business relationships or operations generally; Vivid Seats’ ability to manage growth; Vivid Seats’ ability to execute its business plan and achieve its projections; potential disruption to the retention of Vivid Seats employees following the transaction; potential litigation, governmental or regulatory proceedings, investigations or inquiries involving Vivid Seats, including in connection with the business combination; changes in applicable laws or regulations and general economic and market conditions affecting demand for Vivid Seats’ products and services, and in particular economic and market conditions in the live events industry in the markets which Vivid Seats operates; Vivid Seats’ ability to successfully integrate the Betcha App into the Vivid Seats App, including the timing, nature and expense of doing so, and realize the expected benefits of its acquisition of Betcha; and other risks and uncertainties noted in our periodic report on Form 10-Q, including those under “Risk Factors” therein. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on any forward-looking statements, and Vivid Seats undertakes no obligation and assumes no 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 guarantee that it will meet its expectations.

contacts:

Investors
Ashley DeSimone, ICR
[email protected]

Brett Milotte, ICR
[email protected]

Media
Julia Young, live seats
[email protected]

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