Vivid Seats Inc SEAT shares ended the day lower by 16.9% to $6.76 during Thursday's session. The company late Wednesday announced a plan for a secondary underwritten public offering.
A selling stockholder aims to offer 18.5 million shares of the company's Class A common stock, with an option to sell an additional 2.775 million shares.
The company won't gain proceeds from this offering as the shares are sold by the stockholder.
Citigroup, Morgan Stanley and BofA Securities are acting as joint book-running managers for this proposed offering.
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According to data from Benzinga Pro, Vivid Seats has a 52-week high of $9.89 and a 52-week low of $5.58.
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