Sec Form 13G Filing - Hoya Topco LLC filing for Vivid Seats Inc. (SEAT) - 2024-02-09

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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Securities and Exchange Commission

Washington, D.C. 20549

 

 

Schedule 13G

(Rule 13d-102)

Information to be Included in Statements Filed Pursuant

to § 240.13d-1(b), (c) and (d) and Amendments Thereto Filed

Pursuant to § 240.13d-2

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)*

 

 

Vivid Seats Inc.

(Name of Issuer)

Class A common stock

(Title of Class of Securities)

92854T100

(CUSIP Number)

December 31, 2023

(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☐ Rule 13d-1(c)

☒ Rule 13d-1(d)

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 92854T100    Schedule 13G    Page 1 of 13

 

 1   

Names of Reporting Persons

 

Hoya Topco, LLC

 2   

Check the Appropriate Box if a Member of a Group

(a) ☐  (b) ☐

 

 3   

SEC Use Only

 

 4   

Citizenship or Place of Organization

 

Delaware

Number of Shares Beneficially  Owned by Each Reporting Person

With

    5   

Sole Voting Power

 

0

    6   

Shared Voting Power

 

82,225,000

    7   

Sole Dispositive Power

 

0

    8   

Shared Dispositive Power

 

82,225,000

 9   

Aggregate Amount Beneficially Owned by Each Reporting Person

 

82,225,000

10   

Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

Not Applicable

11   

Percent of Class Represented by Amount in Row 9

 

38.0%

12   

Type of Reporting Person

 

OO


CUSIP No. 92854T100    Schedule 13G    Page 2 of 13

 

 1   

Names of Reporting Persons

 

GTCR Fund XI/B LP

 2   

Check the Appropriate Box if a Member of a Group

(a) ☐  (b) ☐

 

 3   

SEC Use Only

 

 4   

Citizenship or Place of Organization

 

Delaware

Number of Shares Beneficially  Owned by Each Reporting Person

With

    5   

Sole Voting Power

 

0

    6   

Shared Voting Power

 

82,225,000

    7   

Sole Dispositive Power

 

0

    8   

Shared Dispositive Power

 

82,225,000

 9   

Aggregate Amount Beneficially Owned by Each Reporting Person

 

82,225,000

10   

Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

Not Applicable

11   

Percent of Class Represented by Amount in Row 9

 

38.0%

12   

Type of Reporting Person

 

PN


CUSIP No. 92854T100    Schedule 13G    Page 3 of 13

 

 1   

Names of Reporting Persons

 

GTCR Fund XI/C LP

 2   

Check the Appropriate Box if a Member of a Group

(a) ☐  (b) ☐

 

 3   

SEC Use Only

 

 4   

Citizenship or Place of Organization

 

Delaware

Number of Shares Beneficially  Owned by Each Reporting Person

With

    5   

Sole Voting Power

 

0

    6   

Shared Voting Power

 

82,225,000

    7   

Sole Dispositive Power

 

0

    8   

Shared Dispositive Power

 

82,225,000

 9   

Aggregate Amount Beneficially Owned by Each Reporting Person

 

82,225,000

10   

Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

Not Applicable

11   

Percent of Class Represented by Amount in Row 9

 

38.0%

12   

Type of Reporting Person

 

PN


CUSIP No. 92854T100    Schedule 13G    Page 4 of 13

 

 1   

Names of Reporting Persons

 

GTCR Partners XI/B LP

 2   

Check the Appropriate Box if a Member of a Group

(a) ☐  (b) ☐

 

 3   

SEC Use Only

 

 4   

Citizenship or Place of Organization

 

Delaware

Number of Shares Beneficially  Owned by Each Reporting Person

With

    5   

Sole Voting Power

 

0

    6   

Shared Voting Power

 

82,225,000

    7   

Sole Dispositive Power

 

0

    8   

Shared Dispositive Power

 

82,225,000

 9   

Aggregate Amount Beneficially Owned by Each Reporting Person

 

82,225,000

10   

Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

Not Applicable

11   

Percent of Class Represented by Amount in Row 9

 

38.0%

12   

Type of Reporting Person

 

PN


CUSIP No. 92854T100    Schedule 13G    Page 5 of 13

 

 1   

Names of Reporting Persons

 

GTCR Partners XI/A&C LP

 2   

Check the Appropriate Box if a Member of a Group

(a) ☐  (b) ☐

 

 3   

SEC Use Only

 

 4   

Citizenship or Place of Organization

 

Delaware

Number of Shares Beneficially  Owned by Each Reporting Person

With

    5   

Sole Voting Power

 

0

    6   

Shared Voting Power

 

82,225,000

    7   

Sole Dispositive Power

 

0

    8   

Shared Dispositive Power

 

82,225,000

 9   

Aggregate Amount Beneficially Owned by Each Reporting Person

 

82,225,000

10   

Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

Not Applicable

11   

Percent of Class Represented by Amount in Row 9

 

38.0%

12   

Type of Reporting Person

 

PN


CUSIP No. 92854T100    Schedule 13G    Page 6 of 13

 

 1   

Names of Reporting Persons

 

GTCR Investment XI LLC

 2   

Check the Appropriate Box if a Member of a Group

(a) ☐  (b) ☐

 

 3   

SEC Use Only

 

 4   

Citizenship or Place of Organization

 

Delaware

Number of Shares Beneficially  Owned by Each Reporting Person

With

    5   

Sole Voting Power

 

0

    6   

Shared Voting Power

 

82,225,000

    7   

Sole Dispositive Power

 

0

    8   

Shared Dispositive Power

 

82,225,000

 9   

Aggregate Amount Beneficially Owned by Each Reporting Person

 

82,225,000

10   

Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

Not Applicable

11   

Percent of Class Represented by Amount in Row 9

 

38.0%

12   

Type of Reporting Person

 

OO


CUSIP No. 92854T100    Schedule 13G    Page 7 of 13

 

ITEM 1.    (a)    Name of Issuer:

Vivid Seats Inc. (the “Issuer”).

   (b)    Address of Issuer’s Principal Executive Offices:

24 E. Washington Street, Suite 900, Chicago, IL 60602

ITEM 2.    (a)    Name of Person Filing:

Each of the following is hereinafter individually referred to as a “Reporting Person” and collectively as the “Reporting Persons.” This statement is filed on behalf of:

Hoya Topco, LLC;

GTCR Fund XI/B LP (“GTCR Fund XI/B”);

GTCR Fund XI/C LP (“GTCR Fund XI/C”);

GTCR Partners XI/B LP (“GTCR Partners XI/B”);

GTCR Partners XI/A&C LP (“GTCR Partners XI/A&C”); and

GTCR Investment XI LLC (“GTCR Investment XI”).

   (b)    Address or Principal Business Office:

The business address of each of the Reporting Persons is 300 North LaSalle Street, Suite 5600, Chicago, IL 60654.

   (c)    Citizenship of each Reporting Person is:

Each of the Reporting Persons is organized under the laws of the State of Delaware.

   (d)    Title of Class of Securities:

Class A common stock, par value $0.0001 per share (“Class A common stock”).

   (e)    CUSIP Number:

92854T100

 

ITEM 3.

Not applicable.


CUSIP No. 92854T100    Schedule 13G    Page 8 of 13

 

ITEM 4.

Ownership.

 (a-c)

The ownership information presented below represents beneficial ownership of Class A common stock of the Issuer as of December 31, 2023, based upon 133,875,814 shares of Class A common stock outstanding as of January 4, 2024 based on the Proxy Statement on Form DEF 14A filed with the Securities and Exchange Commission on January 9, 2024. The ownership information assumes the redemption of the Common Units of Hoya Intermediate, LLC (“Common Units”) held by the Reporting Persons for shares of the Issuer’s Class A common stock on a one-to-one basis and that no other holder of derivative securities has converted their securities.

 

Reporting Person   

Amount

beneficially 

owned

    

Percent

of class:

    Sole
power
to vote
or to
direct
the
vote:
     Shared
power to
vote or to
direct the
vote:
    

Sole
power to
dispose or
to direct
the
disposition

of:

    

Shared

power to

dispose or

to direct

the

disposition

of:

 

Hoya Topco, LLC

     82,225,000        38.0     0        82,225,000        0        82,225,000  

GTCR Fund XI/B LP

     82,225,000        38.0     0        82,225,000        0        82,225,000  

GTCR Fund XI/C LP

     82,225,000        38.0     0        82,225,000        0        82,225,000  

GTCR Partners XI/B LP

     82,225,000        38.0     0        82,225,000        0        82,225,000  

GTCR Partners XI/A&C LP

     82,225,000        38.0     0        82,225,000        0        82,225,000  

GTCR Investment XI LLC

     82,225,000        38.0     0        82,225,000        0        82,225,000  

Hoya Topco, LLC holds 76,225,000 Common Units and currently exercisable warrants to purchase 6,000,000 Common Units. Each Common Unit may be redeemed by the holder for shares of Class A Common Stock on a one-for-one basis.

GTCR Fund XI/B, GTCR Fund XI/C and certain other entities affiliated with GTCR LLC have the right to appoint a majority of the members of the board of managers of Hoya Topco, LLC. GTCR Partners XI/B is the general partner of GTCR Fund XI/B. GTCR Partners XI/A&C is the general partner of GTCR Fund XI/C. GTCR Investment XI is the general partner of each of GTCR Partners XI/B and GTCR Partners XI/A&C. GTCR Investmen t XI is managed by a board of managers, which includes Mark M. Anderson and David A. Donnini, and no single person has voting or dispositive authority over the securities reported herein. As such, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities reported herein. Each of them disclaims any such beneficial ownership.

 

ITEM 5.

Ownership of Five Percent or Less of a Class.

Not applicable.

 

ITEM 6.

Ownership of More than Five Percent on Behalf of Another Person.

Not applicable.


CUSIP No. 92854T100    Schedule 13G    Page 9 of 13

 

ITEM 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.

Not applicable.

 

ITEM 8.

Identification and Classification of Members of the Group.

Not applicable.

 

ITEM 9.

Notice of Dissolution of Group.

Not applicable.

 

ITEM 10.

Certification.

Not applicable.


CUSIP No. 92854T100    Schedule 13G    Page 10 of 13

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: February 9, 2024

 

Hoya Topco, LLC
By:   /s/ Stanley Chia
Name:   Stanley Chia
Title:   President
GTCR FUND XI/B LP
By: GTCR Partners XI/B LP
Its: General Partner
By: GTCR Investment XI LLC
Its: General Partner
By:   /s/ Jeffrey S. Wright
Name:   Jeffrey S. Wright
Title:   Chief Legal Officer
GTCR FUND XI/C LP
By: GTCR Partners XI/A&C LP
Its: General Partner
By: GTCR Investment XI LLC
Its: General Partner
By:   /s/ Jeffrey S. Wright
Name:   Jeffrey S. Wright
Title:   Chief Legal Officer
GTCR PARTNERS XI/B LP
By: GTCR Investment XI LLC
Its: General Partner
By:   /s/ Jeffrey S. Wright
Name:   Jeffrey S. Wright
Title:   Chief Legal Officer


CUSIP No. 92854T100    Schedule 13G    Page 11 of 13

 

GTCR PARTNERS XI/A&C LP
By: GTCR Investment XI LLC
Its: General Partner
By:   /s/ Jeffrey S. Wright
Name:   Jeffrey S. Wright
Title:   Chief Legal Officer
GTCR INVESTMENTS XI LLC
By:   /s/ Jeffrey S. Wright
Name:   Jeffrey S. Wright
Title:   Chief Legal Officer


CUSIP No. 92854T100    Schedule 13G    Page 12 of 13

 

LIST OF EXHIBITS

 

Exhibit No.

  

Description

99    Joint Filing Agreement (previously filed).