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Eventbrite has filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). The company intends to price its 10 million shares in the range of $21 to $23 (up from the previous range of $19 to $21), with an overallotment option for an additional 1.5 million shares. At the maximum price, the entire offering is valued up to $264.5 million. The company intends to list its shares on the New York Stock Exchange under the symbol EB.

The underwriters for the offering are Goldman Sachs, JPMorgan, Allen, RBC Capital Markets, SunTrust Robinson Humphrey and Stifel.

This company serves event creators through its broad technology platform. The platform integrates components needed to seamlessly plan, promote and produce live events, thereby allowing creators to reduce friction and costs, increase reach and drive ticket sales.

Management believes that the business model is simple: Eventbrite charges creators on a per-ticket basis when an attendee purchases a paid ticket for an event. It grows with creators as they plan, promote and produce more events and grow attendance. In 2017, the firm helped more than 700,000 creators issue roughly 203 million tickets across about three million events in over 170 countries.

Eventbrite described its finances in the filing as follows:

In 2017, our net revenue was $201.6 million, up from $133.5 million in 2016, representing year-over-year net revenue growth of 51.0%. Our net revenue for the six months ended June 30, 2018 was $142.1 million, up from $88.2 million for the six months ended June 30, 2017, representing period-over-period net revenue growth of 61.2%. The growth over these periods was primarily the result of paid ticket growth, fueled in part by recent acquisitions. Our net loss was $40.4 million and $38.5 million in 2016 and 2017, respectively, and $8.3 million and $15.6 million for the six months ended June 30, 2017 and 2018, respectively. Our Adjusted EBITDA was $(17.6) million and $4.2 million in 2016 and 2017, respectively, and $3.7 million and $10.0 million for the six months ended June 30, 2017 and 2018, respectively.

The company intends to use the net proceeds from the offering to repay indebtedness and satisfy tax withholding obligations. The remainder will be put toward working capital and general corporate purposes.