Vivid Seats offers 0.240 shares per warrant; authorizes $40M buyback

Vivid Seats Inc.

Exchange offer: 0.240 shares per public warrant; max 4.35M shares issuable; offer open until June 29, 2022.
If approved, untendered warrants convert at 0.213 shares (12.7% discount); requires 65% holder consent.
Eldridge Industries, holding ~28.5% of warrants, agreed to tender and consent; additional ~36.5% needed.
Board authorized $40M share repurchase program after offer completion, through March 31, 2023.
CFO cites confidence in cash flow; buyback funded from operations and cash on hand.

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