Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
On October 19, 2021, our Class A common stock and warrants began trading on Nasdaq under the symbols “SEAT” and "SEATW," respectively. Prior to that date, there was no public trading market for our securities.
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Stockholders
As of February 29, 2024, there were 57 holders of record of our Class A common stock and one holder of our Class B common stock. The actual number of holders of our Class A common stock is greater than this number, as it includes beneficial owners whose shares are held in “street name” by banks, brokers and other nominees.
Dividends
We did not pay any cash dividends on our Class A common stock during the year ended December 31, 2023. We intend to retain future earnings for future operations, development, expansion, debt repayment and potential acquisitions and share repurchases, and we have no current plans to declare or pay any cash dividends on our Class A common stock for the foreseeable future. Any future decision to declare and pay dividends will be made at the discretion of our Board and will depend on, among other things, our results of operations, financial condition, cash requirements, contractual restrictions (including those under our credit facility and/or any future indebtedness we may incur), business prospects and other factors that our Board may deem relevant.
Stock Performance Graph
The following graph depicts the total return to stockholders from the closing price on October 19, 2021 (the date on which our Class A common stock began trading on Nasdaq) through December 31, 2023, relative to the performance of the Nasdaq Composite and the Russell 2000 Technology Index. The graph assumes $100 invested at the closing price on October 19, 2021 in each of our Class A common stock, the Nasdaq Composite and the Russell 2000 Technology Index, and dividends reinvested in the security or index. The comparisons reflected in the graph are not intended to forecast, and may not be indicative of, the future performance of us or our Class A common stock.
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Issuer Purchases of Equity Securities
The following table provides information about our purchases of our common stock during the three months ended December 31, 2023:
Period
Total No. of
Shares
Purchased
Avg. Price Paid
Per Share
Total No. of Shares
Purchased As Part of
Publicly Announced
Plans or Programs
Max. No. (or Approx. Dollar
Value) of Shares That May
Yet Be Purchased Under the
Plans or Programs
October 1-31, 2023
—
—
—
—
November 1-30, 2023
—
—
—
—
December 1-31, 2023
2,000,000 (1)
$
6.24
—
—
Total
2,000,000
$
6.24
—
—
(1) On December 12, 2023, we repurchased 2.0 million shares of our Class A common stock from the underwriters of the December 2023 Secondary Offering (as defined herein) at a price of $6.24 per share (the same price per share paid by the underwriters to Hoya Topco, the selling stockholder). See Note 17, Equity , to our consolidated financial statements included elsewhere in this Report for more information regarding the December 2023 Secondary Offering.
On February 29, 2024, our Board authorized a share repurchase program for up to $100.0 million of our Class A common stock, which program was publicly announced on March 5, 2024 and does not have a fixed expiration date.
Item 6. [R e served]
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