The secondary ticketing company had gross sales of $8.7 billion in 2024 and plans to use the IPO proceeds to pay down its $2.33 billion of long-term debt.
The ticket reseller, founded in 2000, is estimated to be carrying $2 billion in debt.
The streaming service must overcome numerous obstacles to complete its SPAC deal -- and even if it closes, it likely faces a tough road ahead.
