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Eventbrite, Inc. (NYSE:EB), a global events marketplace, today announced its Board of Directors has authorized the repurchase of up to $100 million of outstanding Class A common stock. Under the program, Eventbrite may purchase shares of Class A common stock through open market purchases, block trades, privately negotiated transactions, accelerated share repurchase transactions, and/or pursuant to Rule 10b5-1 plans, in compliance with applicable securities laws and other legal requirements. The volume and timing of any repurchases will be subject to general market conditions, as well as Eventbrite's management of capital, general business conditions, other investment opportunities, and other factors. The repurchase program does not obligate Eventbrite to repurchase any specific number of shares, has no time limit, and may be modified, suspended, or discontinued at any time at the company's discretion.
Eventbrite currently expects to fund the repurchase program from existing cash and cash equivalents and/or future cash flows. As of December 31, 2023, Eventbrite had available liquidity of approximately $391.1 million. Eventbrite had approximately 86,206,862 shares of Class A common stock and 15,661,433 shares of Class B common stock outstanding as of February 29, 2024.
Posted In: EB
