Vivid Seats Inc. Files 8-K for Material Definitive Agreement

TL;DR

Vivid Seats just signed a big deal, filing an 8-K on June 14th.

AI Summary

On June 14, 2024, Vivid Seats Inc. entered into a material definitive agreement related to a direct financial obligation. The company, incorporated in Delaware with its principal executive offices in Chicago, IL, filed this 8-K report to disclose this event.

Why It Matters

This filing indicates a significant financial event for Vivid Seats Inc., potentially impacting its financial obligations and strategic direction.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and direct financial obligations can introduce financial risks and obligations that may affect the company's performance.

Key Numbers

• 001-40926 — Commission File Number (Identifies the specific SEC filing for Vivid Seats Inc.)
• 86-3355184 — IRS Employer Identification No. (Tax identification number for Vivid Seats Inc.)

Key Players & Entities

• Vivid Seats Inc. (company) — Registrant
• June 14, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• Chicago, IL (location) — Address of principal executive offices

FAQ

Key Financial Figures

• $0.0001 — stered Class A common stock, par value $0.0001 per share SEAT The Nasdaq Stock Mar
• $125.5 million — e " Existing Term Loans ") and incurred $125.5 million of additional Term Loans (the " New Ter
• $395.0 million — fter giving effect to the Amendment was $395.0 million. A portion of the proceeds of the 2024

Filing Documents

• ef20031291_8k.htm (8-K) — 32KB
• ef20031291_ex10-1.htm (EX-10.1) — 1610KB
• 0001140361-24-030734.txt ( ) — 2159KB
• seat-20240614.xsd (EX-101.SCH) — 4KB
• seat-20240614_def.xml (EX-101.DEF) — 18KB
• seat-20240614_lab.xml (EX-101.LAB) — 27KB
• seat-20240614_pre.xml (EX-101.PRE) — 20KB
• ef20031291_8k_htm.xml (XML) — 6KB

01

Item 1.01. Entry into a Material Definitive Agreement On June 14, 2024 (the " Closing Date "), certain direct and indirect subsidiaries of Vivid Seats Inc. (the " Company "), including Hoya Midco, LLC (the " Borrower "), Hoya Intermediate, LLC (" Holdings "), Vivid Seats LLC and certain direct and indirect wholly owned subsidiaries of Vivid Seats LLC, entered into an amendment (the " Amendment ") to the First Lien Credit Agreement, dated June 30, 2017, among the Borrower, Holdings, Barclays Bank PLC, as administrative agent, and the lenders and loan parties from time to time party thereto (as amended from time to time, including by the Amendment, the " Credit Agreement "). Capitalized terms used but not defined herein have the meanings given to them in the Credit Agreement. Pursuant to the Amendment, the Borrower refinanced all Term Loans outstanding immediately prior to the Closing Date (the " Existing Term Loans ") and incurred $125.5 million of additional Term Loans (the " New Term Loans " and, together with the refinanced Existing Term Loans, the " 2024 Term Loans "). The aggregate principal amount of 2024 Term Loans outstanding immediately after giving effect to the Amendment was $395.0 million. A portion of the proceeds of the 2024 Term Loans was used to refinance the Existing Term Loans and to pay the costs, fees and expenses related to the 2024 Term Loans. The remaining proceeds of the 2024 Term Loans will be used for general corporate purposes. The 2024 Term Loans were issued at par and have the same material terms (including with respect to maturity, prepayment, security, covenants and events of default) as the Existing Term Loans, as described in Note 13 to the Company's audited financial statements included in Part II, Item 8 of the Company's Annual Report on Form 10-K for the year ended December 31, 2023, except, among other things, that the applicable rate of interest was reduced from Adjusted Term SOFR, plus a margin of 3.25%, to Adjusted Term S

03

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.

Financial Statements and Exhibits

Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 10.1 Amendment No. 5 to First Lien Credit Agreement, dated June 14, 2024, among Hoya Midco, LLC, Hoya Intermediate, LLC, Barclays Bank PLC, and the lenders and loan parties from time to time party thereto 104 Cover Page Interactive Data File (embedded within the Inline XBRL Document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Vivid Seats Inc. Date: June 20, 2024 By: /s/ Lawrence Fey Lawrence Fey Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR