Eventbrite spikes 58% in its trading debut (EB)

Image result for Eventbrite company

The ticketing and event-management company Eventbrite priced its initial public offering at $23 a share, raising $230 million.

  • Eventbrite opened for trading at $36 a share on Thursday after pricing at $23.
  • Shares ended the day at $36.29 apiece, up 58%
  • The ticketing and event-management company raised $230 million through its initial public offering.
  • Watch Eventbrite trade in real time here.

Eventbrite, the ticketing and event-management company, gained 58% in its stock-market debut on Thursday. Shares opened for trading at $36 — 56% above their initial public offering price of $23 — before settling at $36.29 apiece. The company raised $230 million through its IPO after selling 10 million shares.

Eventbrite

In its S-1 filing, Eventbrite said it hoped to use the proceeds to increase its capitalization and financial flexibility and to pay off its debt — which stands at $66.36 million. Eventbrite said it sold 46.7 million tickets last year and posted a net loss of $38.55 million. The company said it lost $15.58 million in the first six months of this year.

In the past 12 years as a private company, Eventbrite has raised $332 million. Tiger Global Management owns a 20.8% stake, followed by Sequoia Capital at 17.6% and the company’s cofounder and CEO, Julia Hartz, with 14.6%.

The offering was led by Goldman Sachs Group Inc., Allen & Co., JPMorgan Chase & Co., and Royal Bank of Canada.

Shares trade under the ticker symbol “EB.”

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.