RedBall’s team, in combination with sponsor affiliate RedBird Capital Partners, brings extensive integration in the sports and entertainment ecosystem, and ticketing industry.
SeatGeek’s is an official partner of some of the most recognized teams, venues, and leagues across the globe and its vertically integrated, mobile-centric technology platform offers unique features that address the needs of fans, ticket sellers and rightsholders, driving market share expansion and creating a powerful growth flywheel.
The combined company is positioned to be global technology ticketing marketplace and live entertainment technology platform, and the fastest-growing scaled company in its category, with implied initial enterprise value of ~$1.35B.
Jack Groetzinger, SeatGeek CEO and Co-Founder, to lead combined company, with current proven management team.
The business combination with RedBall to provide access to new capital sources and expected to drive growth model, accelerate market expansion and extend technology innovation.
The combined company expected to receive ~$675 million in gross proceeds, which includes fully committed PIPE of $100 million, and $575 million held in trust account of RedBall Acquisition Corp, assuming no redemptions by RedBall public shareholders.
Upon the close of the transaction, the combined company will be named SeatGeek.
The transaction is expected to close in the first quarter of 2022, subject to customary closing conditions.