Vivid Seats Amends Credit Agreement, Repricing Term Loans

Vivid Seats Inc. (NASDAQ: SEAT) recently announced the execution of an amendment to its First Lien Credit Agreement on February 5, 2025. The amendment involved certain subsidiaries of Vivid Seats Inc., including Hoya Midco, LLC, Hoya Intermediate, LLC, and Vivid Seats LLC, among others.

This amendment, termed as the “Amendment,” affected all $393.0 million of Term Loans that were outstanding prior to the Closing Date, leading to the repricing of these loans. The adjustment resulted in a decrease in the applicable interest on the Term Loans from Adjusted Term SOFR plus a 3.00% margin to Adjusted Term SOFR plus a 2.25% margin (or 2.00% if the Rating Level is at least Ba3/BB-).

It is essential to note that apart from repricing the Term Loans, the Amendment did not introduce significant changes to the existing terms and conditions outlined in the Credit Agreement. Hence, the repriced Term Loans maintain their essential terms, including those related to maturity, prepayment, security, covenants, and events of default, as detailed in the Company’s unaudited condensed consolidated financial statements from September 30, 2024.

As per the filing, the complete text of the Amendment is available for reference, attached as Exhibit 10.1 to the 8-K filing submitted by Vivid Seats Inc. to the Securities and Exchange Commission.

The change in the credit agreement reflects Vivid Seats Inc.’s strategic financial management decisions and its ongoing efforts to optimize its capital structure and financial obligations as of the aforementioned date.

This amendment signifies Vivid Seats Inc.’s proactive approach to financial management and responsiveness to market conditions, ensuring the alignment of its financing arrangements with its corporate objectives.

For more detailed financial information and additional disclosures, interested parties can refer to Vivid Seats Inc.’s filings with the Securities and Exchange Commission.

The article does not constitute investment advice, and readers are advised to conduct further research and consult with financial professionals before making any investment decisions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vivid Seats’s 8K filing here.

About Vivid Seats

Vivid Seats Inc operates an online ticket marketplace in the United States, Canada, and Japan. The company operates in two segments, Marketplace and Resale. The Marketplace segment acts as an intermediary between event ticket buyers and sellers; processes ticket sales on its website and mobile applications through its distribution partners; and sells tickets for sports, concerts, theater events, and other live events.