Vivid Seats will receive roughly $769 million in the deal and be valued at approximately $2.06 billion. Eldrige, which provided $155 million of initial funding, will also invest in any common stock redeemed by Horizon shareholders, a right typically granted to SPAC investors who do not favor an acquisition. In addition, institutional investors will commit to a private placement of $225 million in common shares. Vivid Seats will use the acquisition proceeds to pay down debt by $677 million, leaving $108 million of debt (net of cash) on its books, according to a Horizon investor presentation. The company said in a press release it will invest in “growth and improvement customer experiences.”