Eventbrite Surges On $500 Million Buyout By Bending Spoons
Eventbrite, Inc. (NYSE:EB) shares are trading higher on Tuesday after the company disclosed a deal to be acquired by Bending Spoons in an all-cash deal valued at roughly $500 million.
Details
As per the deal, Eventbrite stockholders will receive $4.50 in cash for each share of Eventbrite capital stock that they own.
The per-share purchase price represents an 82% premium over Eventbrite’s 60-day volume-weighted average share price as of market close on Dec. 1.
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The proposed transaction is expected to close in the first half of 2026, subject to customary closing conditions and approvals.
Upon the closure of the deal, Eventbrite will become a privately held company and its capital stock will no longer be listed on any public stock exchange.
The transaction is subject to customary closing conditions, including regulatory and shareholder approvals.
Management Commentary
Luca Ferrari, Bending Spoons CEO and co-founder, stated, “Joining forces with Bending Spoons will accelerate innovation and strengthen Eventbrite’s tools and resources to bring even more people together through shared live experiences for many years to come.”
“Eventbrite helped unlock something profoundly human: the need to gather, to connect, and to build community around the passions we share. What began as an unmet need – to empower local creators and community leaders to bring people together – has grown into a global movement that has shaped millions of meaningful experiences and helped event-goers find their people in moments that matter most,” added Julia Hartz, Eventbrite co-founder, chief executive officer, and executive chair.
Recent Earnings Release
Last month, the company reported third-quarter adjusted EPS of $0.00, beating the $(0.04) estimate, while sales came in at $71.743 million, slightly below the $71.852 million forecast.
EB Price Action: Eventbrite shares were up 78.63% at $4.43 at the time of publication on Tuesday. The stock is trading at a new 52-week high, according to Benzinga Pro data.
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