Eventbrite prices its IPO at $23 a share (EB)

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EventbriteAP/Jed Jacobsohn

  • Eventbrite is set to begin publicly trading on Thursday.
  • The ticketing and event-management company priced shares at $23 apiece for its initial public offering, raising $230 million.
  • Shares are indicated to open between $30 and $31, according to Bloomberg.
  • Watch Eventbrite trade in real time here.

Eventbrite, the ticketing and event-management company set to go public on Thursday, has raised $230 million in its initial public offering after selling 10 million shares at $23 apiece. Indications from the floor of the New York Stock Exchange suggest shares will open for trading between $30 and $31.

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 are set to start trading on the New York Stock exchange later Thursday under the ticker symbol EB.

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