Joby Aviation closes $591 million stock offering with full underwriter option
StubHub Holdings Inc., the secondary ticketing marketplace, announced it has launched the roadshow for its initial public offering of 34,042,553 shares of Class A common stock. The company also plans to grant underwriters a 30-day option to purchase an additional 5,106,382 shares at the IPO price.
The initial public offering price is expected to range between $22.00 and $25.00 per share. At the midpoint of $23.50, the base offering would raise approximately $800 million, with the total potentially reaching $920 million if underwriters exercise their full option.
StubHub has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol "STUB."
J.P. Morgan and Goldman Sachs & Co. LLC serve as lead joint book-running managers for the offering. Additional joint book-running managers include BofA Securities, Evercore ISI, BMO Capital Markets, Mizuho, TD Cowen, Truist Securities and Wolfe | Nomura Alliance. Citizens Capital Markets, Oppenheimer & Co., Wedbush Securities and PNC Capital Markets LLC act as co-managers.
The company operates as a global secondary ticketing marketplace for live events, serving customers in over 200 countries and territories through StubHub in North America and viagogo internationally. The platform supports over 30 languages and accepts payments in over 45 currencies.
A registration statement has been filed with the SEC but has not yet become effective. The securities cannot be sold until the registration statement becomes effective, according to the company’s press release.