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Eventbrite Files for $200 Million IPO

September 13, 2018

Event registration and ticketing platform company, Eventbrite, plans to go public. The company filed for an initial public offering (IPO) on Aug. 23, stating that it intends to raise $200 million from sales of its Class A shares. 

Goldman Sachs, J.P. Morgan, Allen & Company and RBC Capital Markets are underwriting the IPO and Eventbrite stock will be listed on the New York Stock Exchange (NYSE) with the ticker symbol “EB.”  

On Sept.7, Eventbrite announced that it plans to sell 10 million shares priced $19-$21 each, to raise $200 million at the midpoint of that range. The valuation of the company will be $1.8 billion.

The intent stated in the Securities and Exchange Commission (SEC) document is to first and foremost repay its outstanding loans. While the company has reported significant revenue growth, it has lost nearly $100 million in the past two and a half years. 

Eventbrite has previously raised $332.3 million over nine funding rounds since 2006. 

The IPO states that the company may use a portion of the net proceeds to acquire or invest in complementary businesses, products, services, technologies or other assets, although there are no agreements or commitments in place to do so at this time. 

The offering will be made only by means of a prospectus. For details on how to obtain it, go HERE.

 

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