Shareholders of Horizon Acquisition Corporation (NYSE: HZAC) approved the proposed merger deal that will bring Vivid Seats public at an October 14th meeting. Plans are that the deal will be closed on Monday, October 18, according to an announcement by both companies. Approximately 95.5% of the votes cast at the meeting were in favor of the combination.
Assuming all goes to plan, or in the language of the release, “subject to the satisfaction of certain customary closing conditions,” the newly combined company will be trading on the NASDAQ under the symbol SEAT and SEATW beginning October 19.
The merger was first announced in the spring, with Horizon Acquisition Corporation and CEO Todd Boehly – who is part of the ownership groups of both the Los Angeles Dodgers and Sparks – speaking highly of the move. “We are pleased to bring Vivid Seats to the public markets,” Boehly said at the time. “With its favorable mix of live events, and its growing list of strategic partners, Vivid Seats has built an impressive technology platform, as well as a substantial customer base. Vivid Seats is a scaled, growing and highly profitable marketplace that will be well positioned to drive continual long-term growth.”
Since that announcement, Vivid Seats has announced appointments to its leadership team and a planned post-merger Board of Directors as it has been in final preparations for the move.
The full release announcing the vote is included below:
Horizon Acquisition Corp. Shareholders Approve Business Combination with Vivid Seats Inc.
NEW YORK, New York – October 15, 2021 – Horizon Acquisition Corporation (NYSE:HZAC) (“Horizon”), a publicly traded special purpose acquisition company, announced today that in an extraordinary general meeting on October 14, 2021, its shareholders voted to approve its proposed business combination (the “business combination”) with Vivid Seats Inc. (“Vivid Seats”), one of the leading secondary ticketing marketplaces in the country. Approximately 95.5% of the votes cast at the meeting were in favor of the business combination.
Horizon also announced today that in a special meeting of its public warrant holders, such holders voted to approve its proposed warrant agreement amendment. Approximately 99.9% of the votes cast at the meeting were in favor of the warrant agreement amendment.
The business combination is expected to close on October 18, 2021, subject to the satisfaction of certain customary closing conditions. Following the consummation of the business combination, the common stock and warrants of Vivid Seats are expected to begin trading on the Nasdaq Global Market under the symbols “SEAT” and “SEATW,” respectively, on October 19, 2021.
Last Updated on October 18, 2021 by Dave Clark