Eventbrite (EB) plans all-cash $4.50 per share sale to Bending Spoons
Eventbrite is asking stockholders to approve a merger in which Bending Spoons US Inc. will acquire Eventbrite, with Everest Merger Sub merging into Eventbrite, which will become a wholly owned subsidiary of Bending Spoons.
If completed, each share of Eventbrite Class A and Class B common stock will be converted into the right to receive $4.50 in cash per share, without interest, a price that the company notes is about 81% above the
The special meeting will also include a non-binding advisory vote on merger-related executive compensation and a proposal to adjourn the meeting if more time is needed to solicit proxies. Eventbrite’s board, after receiving a fairness opinion from Allen & Company LLC, unanimously recommends voting “FOR” all proposals. Certain major stockholders, including Julia and Kevin Hartz and related entities, have already agreed to vote shares representing about 50.9% of the voting power in favor of the merger.
The merger is not subject to a financing condition; Bending Spoons expects to use available cash and existing credit facilities. Stockholders who properly follow Delaware law procedures may instead seek appraisal of the fair value of their shares. If the merger is not completed, Eventbrite will remain a public company and its Class A stock will continue trading on the NYSE.
Positive
- All-cash premium valuation: Stockholders are offered $4.50 per share in cash, about 81% above the $2.49 Class A closing price on November 28, 2025 and 9% above the 52-week high of $4.12.
- High voting support already committed: Supporting stockholders, including Julia and Kevin Hartz and related entities, control approximately 50.9% of the voting power as of December 15, 2025 and have agreed to vote in favor of the merger.
Negative
- Deal failure downside risk: The proxy states that if the merger is not consummated, the Class A share price is likely to decline, potentially significantly, from levels reflecting the $4.50 offer.
- Termination fee obligation: Under certain circumstances Eventbrite must pay Bending Spoons a $14.4 million termination fee if the merger agreement is terminated, which could be a meaningful cost to stockholders in alternative scenarios.
Insights
Eventbrite plans an all-cash sale at $4.50 per share, with control effectively pre-committed.
Eventbrite has agreed to be acquired by Bending Spoons US Inc. in an all-cash merger where each Class A and Class B share will receive
The board formed a special committee, obtained a fairness opinion from Allen & Company LLC, and unanimously recommends the deal, which supports the process from a governance perspective as described. A voting and support agreement with Julia and Kevin Hartz and related entities locks up about
The transaction is not conditioned on financing; Bending Spoons states it will use available cash and existing credit facilities. Closing still depends on regulatory clearances, including HSR filings made on
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☒ | Preliminary Proxy Statement |
☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
☐ | Definitive Proxy Statement |
☐ | Definitive Additional Materials |
☐ | Soliciting Material under §240.14a-12 |
Eventbrite, Inc. |
(Name of Registrant as Specified in Its Charter) |
(Name of Person(s) Filing Proxy Statement, if other than the Registrant) |
☐ | No fee required. |
☒ | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. |
☐ | Fee paid previously with preliminary materials. |
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(i) | “FOR” the proposal to adopt the merger agreement, thereby approving the merger and the other transactions contemplated by the merger agreement; |
(ii) | “FOR” the proposal to approve, by means of a non-binding, advisory vote, compensation that will or may become payable to the named executive officers of Eventbrite in connection with the merger; and |
(iii) | “FOR” the proposal to approve one or more adjournments of the special meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies if there are insufficient votes to adopt the merger agreement at the then-scheduled date and time of the special meeting. |
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Sincerely, | |||
Julia Hartz | |||
Co-Founder, Chief Executive Officer, and Chair of the Board | |||
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TIME AND DATE: | Pacific Time on , 2026 | ||
PLACE: | www.virtualshareholdermeeting.com/EB2026SM | ||
ITEMS OF BUSINESS: | 1. To consider and vote on the proposal to adopt the Agreement and Plan of Merger (as it may be amended from time to time), dated as of December 1, 2025, which we refer to as the merger agreement, by and among Eventbrite, Bending Spoons US Inc., which we refer to as Bending Spoons, and Everest Merger Sub Inc., which we refer to as Merger Sub, a wholly-owned subsidiary of Bending Spoons, a copy of which is attached as Annex A to the proxy statement accompanying this notice, which proposal we refer to as the merger proposal; 2. To consider and vote on the proposal to approve, by means of a non-binding, advisory vote, compensation that will or may become payable to the named executive officers of Eventbrite in connection with the merger, which proposal we refer to as the merger-related compensation proposal; and 3. To consider and vote on the proposal to approve one or more adjournments of the special meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies if there are insufficient votes to adopt the merger agreement at the then-scheduled date and time of the special meeting, which proposal we refer to as the adjournment proposal. | ||
ADJOURNMENTS AND POSTPONEMENTS: | Any action on the items of business described above may be considered at the special meeting or at any time and date to which the special meeting may be properly adjourned or postponed. | ||
RECORD DATE: | Stockholders of record at the close of business on , 2026 are entitled to notice of, and to vote at, the special meeting and any adjournments or postponements thereof. | ||
INSPECTION OF LIST OF STOCKHOLDERS OF RECORD: | A list of stockholders of record will be available for inspection at our corporate headquarters located at 95 Third Street, 2nd Floor, San Francisco, California 94103, during ordinary business hours during the ten (10)-day period before the special meeting. | ||
VOTING: | Whether or not you plan to attend the special meeting, we urge you to vote your shares via the toll-free telephone number or over the Internet as described in the proxy materials. You may also sign, date and mail the proxy card in the prepaid envelope provided. | ||
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IMPORTANT INFORMATION | Your vote is very important to us. The merger contemplated by the merger agreement, which we refer to as the merger, is conditioned on the receipt of, and we cannot consummate the merger unless the merger proposal receives, the affirmative vote of a majority of the voting power of the shares of (i) Class A common stock, par value $0.00001, which we refer to as Class A common stock, and (ii) Class B common stock, par value of $0.00001, which we refer to as Class B common stock and, together with Class A common stock, as company common stock, and we refer to shares of company common stock as shares or Eventbrite shares, outstanding and entitled to vote thereon. | ||
The affirmative vote of a majority of the voting power of the shares outstanding and entitled to vote thereon, provided a quorum is present, is required to approve the merger proposal. The affirmative vote of a majority of the voting power of the shares entitled to vote on the merger-related compensation proposal which are present, in person (including virtually) or by proxy, and voting at the special meeting, provided a quorum is present, is required to approve, by means of a non-binding, advisory vote, the merger-related compensation proposal. The affirmative vote of a majority of the voting power of the shares entitled to vote on the adjournment proposal which are present, in person (including virtually) or by proxy, at the special meeting, whether or not a quorum is present, is required to approve the adjournment proposal. | |||
The failure of any stockholder of record to submit a signed proxy card, grant a proxy electronically over the Internet or by telephone or to vote at the special meeting will have the same effect as a vote “AGAINST” the merger proposal but will not have any effect on the merger-related compensation proposal or the adjournment proposal. If you hold your shares in “street name,” the failure to instruct your broker, bank or other nominee of record on how to vote your shares will have the same effect as a vote “AGAINST” the merger proposal but will not have any effect on the merger-related compensation proposal or the adjournment proposal. Abstentions will have the same effect as a vote “AGAINST” the merger proposal and the adjournment proposal, but will not have any effect on the merger-related compensation proposal. Stockholders and beneficial owners of shares held either in voting trust or by a nominee on behalf of such person who abstain or do not vote in favor of the merger proposal will have the right to seek appraisal of the fair value of their shares if they deliver a demand for appraisal before the vote is taken on the merger proposal and comply with all applicable requirements under Delaware law, which are summarized herein and reproduced in their entirety in Annex D to the accompanying proxy statement. | |||
The Eventbrite Board of Directors recommends that you vote (i) “FOR” the merger proposal, (ii) “FOR” the merger-related compensation proposal and (iii) “FOR” the adjournment proposal. | |||
San Francisco, California 94103 | By Order of the Board of Directors, | ||
95 Third Street, 2nd Floor San Francisco, California 94103 | Lisa Gorman General Counsel | ||
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Page | |||
PROXY SUMMARY | 1 | ||
QUESTIONS AND ANSWERS | 12 | ||
FORWARD-LOOKING STATEMENTS | 20 | ||
THE SPECIAL MEETING | 22 | ||
PARTIES INVOLVED IN THE MERGER | 27 | ||
PROPOSAL 1: ADOPTION OF THE MERGER AGREEMENT | 28 | ||
THE MERGER | 28 | ||
TERMS OF THE MERGER AGREEMENT | 60 | ||
THE VOTING AND SUPPORT AGREEMENT | 82 | ||
PROPOSAL 2: ADVISORY VOTE ON MERGER-RELATED EXECUTIVE COMPENSATION ARRANGEMENTS | 84 | ||
PROPOSAL 3: ADJOURNMENT OF THE SPECIAL MEETING | 85 | ||
MARKET PRICES AND DIVIDEND DATA | 86 | ||
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT | 87 | ||
APPRAISAL RIGHTS | 89 | ||
FUTURE STOCKHOLDER PROPOSALS | 93 | ||
HOUSEHOLDING INFORMATION | 95 | ||
WHERE YOU CAN FIND MORE INFORMATION | 96 | ||
MISCELLANEOUS | 97 | ||
Annexes: | |||
Annex A - Agreement and Plan of Merger | A-1 | ||
Annex B - Voting and Support Agreement | B-1 | ||
Annex C - Opinion of Allen & Company LLC | C-1 | ||
Annex D - Section 262 of the General Corporations Law of the State of Delaware | D-1 | ||
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• | the adoption of the merger agreement, a copy of which is attached as Annex A to the proxy statement accompanying this notice, which we refer to as the merger proposal; |
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• | the approval, by means of a non-binding, advisory vote, of compensation that will or may become payable to the named executive officers of Eventbrite in connection with the merger, which we refer to as the merger-related compensation proposal; and |
• | the approval of one or more adjournments of the special meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies if there are insufficient votes to adopt the merger agreement at the then-scheduled date and time of the special meeting, which we refer to as the adjournment proposal. |
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• | solicit, initiate, knowingly encourage or facilitate the making or submission of any acquisition proposal (it being understood and agreed that ministerial acts that are not otherwise prohibited by the merger agreement (such as answering unsolicited phone calls) will not be deemed to facilitate for purposes of, or otherwise constitute a violation, of this provision); |
• | furnish to any person (other than to Bending Spoons, Merger Sub or their respective representatives) any non-public information relating to Eventbrite or any of its subsidiaries or afford to any person (other than Bending Spoons or Merger Sub and their respective representatives) access to the business, properties, assets, books, records or other non-public information, or to any personnel, of Eventbrite or any of its subsidiaries, in any such case that relates to or could reasonably be expected to lead to an acquisition proposal; |
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• | participate in or engage in discussions or negotiations with any person that relates to or could reasonably be expected to lead to an acquisition proposal; |
• | grant any waiver or release under Section 203 of the DGCL or any other state takeover law; or |
• | enter into any letter of intent, memorandum of understanding, merger agreement, acquisition agreement or other contract relating to an acquisition transaction, other than an acceptable confidentiality agreement. |
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• | receipt of Eventbrite stockholder approval of the merger agreement; |
• | the consummation of the merger having not been restrained, enjoined or prohibited by any order (whether temporary, preliminary or permanent) of any court or other governmental entity of the U.S., and there not being in effect any law enacted, issued or promulgated by any governmental entity of the U.S. that prevents the consummation of the merger; |
• | any waiting period (and any extension thereof) under the HSR Act having expired or been terminated; |
• | the accuracy of the representations and warranties of Bending Spoons, Merger Sub and Eventbrite in the merger agreement, subject in some instances to materiality or “material adverse effect” qualifiers, as of the closing date of the merger; |
• | the performance in all material respects by Eventbrite, on the one hand, and Bending Spoons and Merger Sub on the other hand, of their respective obligations under the merger agreement at or prior to the closing; and |
• | since the date of the merger agreement, no Eventbrite material adverse effect having occurred. |
• | by the mutual written consent of Bending Spoons and Eventbrite; |
• | by either Eventbrite or Bending Spoons, if: |
(i) | the Eventbrite stockholder approval of the merger agreement has not been obtained upon a vote taken at the duly convened special meeting or any adjournment or postponement thereof; |
(ii) | any court of competent jurisdiction or other governmental entity of competent jurisdiction has enacted, issued or promulgated any law or order or taken any other action, in each case, permanently restraining, enjoining or otherwise prohibiting, prior to the effective time, the consummation of the merger, and such law, order or other action has become final and non-appealable; provided, that, the right to terminate the merger agreement pursuant to this bullet point will not be available to a party (and in the case of Bending Spoons, including Merger Sub) whose action or failure to perform or comply with any provision of the merger agreement was a primary cause of (i) such law or order to be enacted, issued or promulgated or (ii) the failure to remove such law or order; or |
(iii) | the merger has not been consummated by 11:59 p.m., Pacific Time, on June 1, 2026, which we refer to as the initial outside date, which is subject to extension to 11:59 p.m., Pacific Time, on September 1, 2026 by either party if all conditions are satisfied other than those related to the HSR Act, which date, after giving effect to any such extension, we refer to as the outside date; provided, that, a party will not be able to terminate the merger agreement if it is in breach of the merger agreement and such breach is a primary cause of or primarily resulted in the failure of the merger to occur on or before the outside date. |
• | by Bending Spoons: |
(iv) | at any time prior to receipt of the Eventbrite stockholder approval of the merger agreement if (i) the Eventbrite Board effects an Eventbrite Board recommendation change or (ii) Eventbrite willfully and materially breaches its “no shop” covenant; or |
(v) | if Eventbrite has breached any representation or warranty or failed to perform any covenant, such that the conditions relating to the accuracy of Eventbrite’s representations and warranties or performance of covenants would fail to be satisfied (subject to a thirty (30)-day cure period); provided, that, Bending Spoons will not be able to terminate the merger agreement if Bending Spoons or Merger Sub is then in breach of any of its representations, warranties or covenants contained in the merger agreement, and such breach would result in the failure of one or more of certain conditions to the obligations of Eventbrite to consummate the merger to be satisfied. |
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• | by Eventbrite: |
(vi) | prior to receipt of the requisite stockholder approval for the merger proposal, if (a) Eventbrite receives a superior proposal after the date of the merger agreement, (b) the Eventbrite Board authorizes Eventbrite to enter into a definitive agreement to consummate the transactions contemplated by such superior proposal, (c) Eventbrite has complied in all material respects with its obligations relating to such superior proposal in accordance with the applicable terms and conditions set forth in the merger agreement, and (d) Eventbrite pays a termination fee of $14.4 million to Bending Spoons substantially concurrently with such termination; or |
(vii) | if Bending Spoons has breached any representation or warranty or failed to perform any covenant, such that the conditions relating to the accuracy of Bending Spoons’ or Merger Sub’s representations and warranties or performance of covenants would fail to be satisfied (subject to a thirty (30) day cure period); provided, that, Eventbrite will not be able to terminate the merger agreement if Eventbrite is then in breach of any of its representations, warranties or covenants contained in the merger agreement, and such breach would result in the failure of one or more of certain conditions to the obligations of Bending Spoons and Merger Sub to consummate the merger to be satisfied. |
• | any acquisition proposal or merger, consolidation or business combination involving Eventbrite or any of its subsidiaries, other than the transactions contemplated by the merger agreement; |
• | any sale, lease or transfer of all or substantially all of the assets of Eventbrite or any of its subsidiaries; |
• | any recapitalization, dissolution, liquidation or winding up of Eventbrite or any of its subsidiaries; or |
• | any other action or series of actions that, individually or in the aggregate, could reasonably be expected to (i) result in a material breach of any of the representations, warranties, covenants or agreements set forth in the voting and support agreement, (ii) result in any of the conditions to the consummation of the merger set forth in the merger agreement not being fulfilled or satisfied in accordance with the terms thereof or (iii) otherwise prevent, materially delay, impair or materially and adversely affect the consummation of the transactions in accordance with the terms of the merger agreement. |
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Q: | Why am I receiving these proxy materials? |
A: | On December 1, 2025, Eventbrite entered into the merger agreement providing for the merger of Merger Sub, with and into Eventbrite, with Eventbrite surviving the merger as a wholly-owned subsidiary of Bending Spoons. The Eventbrite Board is furnishing this proxy statement and form of proxy card to the holders of shares in connection with the solicitation of proxies in favor of the proposal to adopt the merger agreement and to approve the other proposals to be voted on at the special meeting or any adjournments or postponements thereof. This proxy statement includes information that we are required to provide to you under the rules of the SEC and is designed to assist you in voting on the matters presented at the special meeting. Stockholders of record as of the close of business on , 2026 may attend the special meeting and are entitled and requested to vote on the proposals described in this proxy statement. |
Q: | What is included in the proxy materials? |
A: | The proxy materials include the proxy statement and the annexes to the proxy statement, including the merger agreement, and a proxy card or voting instruction form. |
Q: | When and where is the special meeting? |
A: | The special meeting will take place on , 2026 at www.virtualshareholdermeeting.com/EB2026SM. To participate in the special meeting, go to and enter the 16-digit control number included on your Notice, your proxy card or the instructions that accompanied your proxy materials. |
Q: | Why are we holding the special meeting virtually? |
A: | Similar to the annual meeting, we will host the special meeting exclusively online. We continue to believe that this format allows us to preserve stockholder access while saving time and money for both Eventbrite and its stockholders. |
Q: | What if I have technical difficulties or trouble accessing the virtual meeting website during the special meeting? |
A: | If you experience technical difficulties accessing the virtual meeting, please contact the technical support telephone number posted on the virtual meeting login page. |
Q: | What is the proposed merger and what effects will it have on Eventbrite? |
A: | The proposed merger is the acquisition of Eventbrite by Bending Spoons through the merger of Merger Sub with and into Eventbrite pursuant to the merger agreement. If the proposal to adopt the merger agreement is approved by the requisite number of votes and the other closing conditions under the merger agreement have been satisfied or waived, Merger Sub will merge with and into Eventbrite, with Eventbrite continuing as the surviving corporation. As a result of the merger, Eventbrite will become a wholly-owned subsidiary of Bending Spoons and you will no longer own shares. Eventbrite expects to delist its Class A common stock from the NYSE as promptly as practicable after the effective time and de-register its Class A common stock under the Exchange Act as promptly as practicable after such delisting. Thereafter, Eventbrite would no longer be a publicly traded company. |
Q: | What will I receive if the merger is completed? |
A: | Upon completion of the merger, you will be entitled to receive the merger consideration of $4.50 in cash, without interest and less applicable tax withholdings, for each share that you own, unless you have properly exercised and perfected and |
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Q: | Who is entitled to vote at the special meeting? |
A: | Holders of either class of our common stock as of the close of business on the record date may vote at the special meeting. As of the close of business on , 2026, there were shares of our Class A common stock and shares of our Class B common stock outstanding. |
Q: | How many votes do I have? |
A: | Holders of shares of our Class A common stock and Class B common stock will vote together as a single class on all matters described in this proxy statement for which your vote is being solicited. |
Q: | May I attend the special meeting and vote therein? |
A: | All Eventbrite stockholders of record as of the close of business on the record date may attend the special meeting and vote. Stockholders who participate in the special meeting online at www.virtualshareholdermeeting.com/EB2026SM will be deemed to be in person attendees. Even if you plan to attend the special meeting, we encourage you to complete, sign, date and return the enclosed proxy card or vote electronically over the Internet or via telephone to ensure that your shares will be represented at the special meeting. If you attend the special meeting and vote, your vote will revoke any proxy previously submitted. If you held your shares in “street name,” because you are not the stockholder of record, you may not vote your shares at the special meeting unless you request and obtain a valid proxy from your broker, bank or other nominee of record. |
Q: | What am I being asked to vote on at the special meeting? |
A: | You are being asked to consider and vote on the following proposals: |
• | the adoption of the merger agreement, a copy of which is attached as Annex A to the proxy statement accompanying this notice; |
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• | the approval, by means of a non-binding, advisory vote, of compensation that will or may become payable to the named executive officers of Eventbrite in connection with the merger; and |
• | the approval of one or more adjournments of the special meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies if there are insufficient votes to adopt the merger agreement at the then-scheduled date and time of the special meeting. |
Q: | How does the Eventbrite Board recommend that I vote? |
A: | As more fully described in the section entitled “Proposal 1: Adoption of the Merger Agreement - The Merger - Recommendation of the Eventbrite Board of Directors and Reasons for the Merger” beginning on page 38, the Eventbrite Board unanimously (i) determined that the merger agreement, the voting and support agreement, the merger and the other transactions contemplated by the merger agreement are advisable, fair to and in the best interests of Eventbrite and its stockholders; (ii) approved, adopted and declared advisable the execution, delivery and performance of the merger agreement, the voting and support agreement, the merger and the other transactions contemplated by the merger agreement; (iii) approved, authorized and declared advisable the consummation by Eventbrite of the transactions contemplated by the merger agreement; (iv) resolved to recommend that Eventbrite stockholders vote in favor of the adoption and approval of the merger agreement, the merger and other transactions contemplated by the merger agreement; and (v) directed that the merger agreement be submitted to Eventbrite stockholders for adoption at a duly held meeting of such stockholders. |
• | “FOR” the merger proposal; |
• | “FOR” the merger-related compensation proposal; and |
• | “FOR” the adjournment proposal. |
Q: | How does the merger consideration compare to the market price of Class A common stock prior to the date on which the transaction was announced? |
A: | The merger consideration represents a premium of (i) approximately 81% to the closing stock price of $2.49 per share of Class A common stock on November 28, 2025; (ii) approximately 77% to the volume weighted average stock price of $2.54 per share of Class A common stock during the one-month trading period ended November 28, 2025; (iii) approximately 9% over the 52-week high trading price of $4.12 per share of Class A common stock for the period ended November 28, 2025; and (iv) approximately 149% over the 52-week low trading price of $1.81 per share of Class A common stock for the period ended November 28, 2025. |
Q: | Will Eventbrite pay a dividend before the completion of the merger? |
A: | We have never declared or paid any dividends on our common stock. Under the terms of the merger agreement, from December 1, 2025 until the earlier of the effective time and the valid termination of the merger agreement in accordance with its terms, we may not declare, set aside or pay any dividends on, or make any other distributions in respect of, any of its common stock, other equity interests or voting securities. See the section entitled “Proposal 1: Adoption of the Merger Agreement - Terms of the Merger Agreement - Conduct of Business Pending the Merger” beginning on page 66. |
Q: | Does Bending Spoons have the financial resources to complete the merger? |
A: | Bending Spoons has represented that it has, and will have available to it, at the closing of the merger, unencumbered cash or cash equivalents that are in the aggregate sufficient to (i) consummate the transactions in accordance with the terms of the merger agreement, (ii) pay any and all fees and expenses required to be paid at closing by Bending Spoons and Merger Sub in connection therewith and (iii) satisfy all of the other payment obligations of Bending Spoons and Merger Sub that are required to be satisfied at closing in accordance with the terms and conditions set forth in the merger agreement. Consummation of the merger is not conditioned on Bending Spoons or Merger Sub obtaining financing. For a more complete description of sources of funding for the merger and related costs, see “Proposal 1: Adoption of the Merger Agreement - The Merger - Financing of the Merger” beginning on page 56. |
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Q: | What do I need to do now? |
A: | We encourage you to read this proxy statement, the annexes to this proxy statement (including the merger agreement), and the documents we refer to in this proxy statement carefully and consider how the merger affects you. Then complete, sign, date and return, as promptly as possible, the enclosed proxy card in the accompanying reply envelope or grant your proxy electronically over the Internet or by telephone, so that your shares can be voted at the special meeting. If you hold your shares in “street name,” please refer to the voting instruction forms provided by your broker, bank or other nominee of record to vote your shares. |
Q: | How do I vote my shares? |
A: | If you are a stockholder of record, there are four ways to vote: |
1. | By Internet at www.proxyvote.com, 24 hours a day, seven days a week, until 8:59 p.m., Pacific Time, on , 2026 (please have your Notice or proxy card in hand when you visit the website); |
2. | By toll-free telephone at (800) 690-6903, until 8:59 p.m., Pacific Time, on , 2026 (please have your Notice or proxy card in hand when you call). Proxies submitted via telephone must be received prior to the special meeting; |
3. | By mail by completing, signing, dating and returning your proxy card in the prepaid envelope provided; or |
4. | By Internet during the special meeting. Instructions on how to attend and vote at the special meeting are described at www.virtualshareholdermeeting.com/EB2026SM. |
Q: | Can I change or revoke my proxy? |
A: | Yes, if you are a stockholder of record. You can change your vote or revoke your proxy at any time before the special meeting by: |
• | submitting a new proxy electronically over the Internet or by telephone after the date of the earlier submitted proxy; |
• | delivering a written notice of revocation to our Corporate Secretary at Eventbrite, Inc., 95 Third Street, 2nd Floor, San Francisco, California 94103 by 2:00 p.m., Pacific Time, on , 2026; |
• | signing another proxy card with a later date and returning it to us prior to the special meeting; or |
• | attending the special meeting and voting online during the special meeting at www.virtualshareholdermeeting.com/EB2026SM. |
Q: | How will my shares be voted if I do not provide specific instructions in the proxy card or voting instructions form that I submit? |
A: | If you are a stockholder of record and if you sign, date and return your proxy card but do not provide specific voting instructions, your shares will be voted “FOR” the merger proposal, “FOR” the merger-related compensation proposal and “FOR” the adjournment proposal. |
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Q: | What is “broker discretionary voting”? |
A: | If you hold your shares in street name, your broker, bank or other similar institution of record may be able to vote your shares without receiving any instructions by you depending on whether the matter being voted on is “discretionary” or “non-discretionary.” Because brokers, banks and other nominee holders of record do not have discretionary voting authority with respect to any of the three (3) proposals, if a beneficial owner of shares held in street name does not give voting instructions to his, her or its broker, bank or other nominee of record with respect to any of the proposals, then those shares will not be present or represented by proxy at the special meeting. If there are any broker non-votes, then such broker non-votes will be counted as a vote “AGAINST” the merger proposal, but will not have any effect on the merger-related compensation proposal or the adjournment proposal. Therefore, it is important that you instruct your broker, bank or other nominee of record on how you wish to vote your shares. |
Q: | I understand that a quorum is required in order to conduct business at the special meeting. What constitutes a quorum? |
A: | A majority in voting power of shares issued and outstanding and entitled to vote at the special meeting, represented in person (including virtually) or by proxy, constitutes a quorum at the special meeting. As of the close of business on the record date, there were shares of Class A common stock issued, of which shares are outstanding and entitled to vote, and shares of Class B common stock issued, of which shares are outstanding and entitled to vote. Stockholders who participate in the special meeting online at www.virtualshareholdermeeting.com/EB2026SM will be deemed to be in person attendees for purposes of determining whether a quorum has been met. If you submit a properly executed proxy by mail, telephone or the Internet, you will be deemed to be an attendee of the special meeting for purposes of establishing a quorum. In addition, abstaining stockholders will be counted and deemed to be attendees of the special meeting for purposes of establishing a quorum. Broker non-votes will not be counted for purposes of establishing a quorum. If a quorum is not present, the special meeting will be adjourned until a quorum is obtained, subject to the terms of the merger agreement. The affirmative vote of a majority of the voting power of the shares entitled to vote on the adjournment which are present, in person (including virtually) or by proxy, at the special meeting or the chairman of the special meeting may adjourn the special meeting, subject to the terms of the merger agreement. |
Q: | What is required to approve the proposals submitted to a vote at the special meeting? |
A: | Merger Proposal. The affirmative vote of a majority of the voting power of the shares outstanding and entitled to vote thereon, provided a quorum is present, is required to approve the merger proposal. This means that the proposal will be approved if the voting power of shares voted “FOR” that proposal is greater than fifty percent (50%) of the total voting power of the votes that can be cast in respect of our outstanding shares. Abstentions and broker non-votes will have the same effect as a vote “AGAINST” the merger proposal. |
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Q: | How can I obtain a proxy card or voting instruction form? |
A: | If you lose, misplace or otherwise need to obtain a proxy card or a voting instruction form, please follow the applicable procedure below. |
Q: | What happens if I sell or otherwise transfer my shares after the close of business on the record date but before the special meeting? |
A: | The record date is earlier than the date of the special meeting and the date on which the merger is expected to be completed. If you sell or transfer any of your shares after the close of business on the record date but before the special meeting, unless special arrangements (such as the provision of a proxy) are made between you and the person to whom you sell or otherwise transfer your shares and each of you properly notifies Eventbrite in writing of such special arrangements, you will transfer the right to receive the merger consideration payable in respect of those shares (if the merger is completed) to the person to whom you sell or transfer your shares, but you will retain your right to vote these shares at the special meeting. Even if you sell or otherwise transfer your shares after the close of business on the record date and before the special meeting, we encourage you to complete, date, sign and return the enclosed proxy card or vote via the Internet or telephone in accordance with the instructions provided herein. |
Q: | When do you expect the merger to be completed? |
A: | We are working toward completing the merger as quickly as possible and currently expect to complete the merger in the first half of 2026. However, the exact timing of completion of the merger cannot be predicted because the completion of the merger is subject to conditions, including, without limitation, the adoption of the merger agreement by our stockholders having the requisite voting power and the receipt of regulatory approvals. |
Q: | What happens if the merger is not completed? |
A: | If the merger agreement is not adopted by Eventbrite stockholders or if the merger is not completed for any other reason, Eventbrite stockholders will not receive any payment for their shares. Instead, Eventbrite will remain a public company, its shares of Class A common stock will continue to be listed and traded on the NYSE and registered under the Exchange Act, and Eventbrite will continue to file periodic reports with the SEC. |
Q: | Are there any other risks to me from the merger that I should consider? |
A: | Yes. There are risks associated with all business combinations, including the merger. See the section entitled “Forward-Looking Statements” beginning on page 20. |
Q: | Do any of Eventbrite’s directors or officers have interests in the merger that may differ from those of Eventbrite stockholders generally? |
A: | Yes. For a description of the interests of our directors and executive officers in the merger, see “Proposal 1: Adoption of the Merger Agreement - The Merger - Interests of the Non-Employee Directors and Executive Officers of Eventbrite in the Merger” beginning on page 50. |
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Q: | What happens if the merger-related compensation proposal is not approved? |
A: | Approval of the merger-related compensation proposal is not a condition to the completion of the merger. The vote is an advisory vote and is not binding. Accordingly, regardless of the outcome of the advisory vote, if the merger is completed, Eventbrite may still pay such compensation to its named executive officers in accordance with the terms and conditions applicable to such compensation. |
Q: | What should I do if I receive more than one set of voting materials? |
A: | You may receive more than one set of voting materials, including multiple copies of this proxy statement and multiple proxy cards or voting instruction cards. For example, if you hold your shares in more than one brokerage account, you will receive a separate voting instruction card for each brokerage account in which you hold shares. If you are a stockholder of record and your shares are registered in more than one name, you will receive more than one proxy card. Please complete, date, sign and return (or vote via the Internet or telephone with respect to) each proxy card and voting instruction card that you receive. |
Q: | Who counts the votes? |
A: | Votes are counted by an independent representative appointed by the Eventbrite Board to serve as the inspector of election at the special meeting. |
Q: | Who may attend the special meeting? |
A: | Eventbrite stockholders who held shares as of the close of business on , 2026 may attend the special meeting. |
Q: | Who pays for the expenses of this proxy solicitation? |
A: | Eventbrite will bear the entire cost of this proxy solicitation, including the preparation, printing, mailing and distribution of these proxy materials. We may also reimburse brokerage firms and other persons representing stockholders who hold their shares in street name for reasonable expenses incurred by them in forwarding proxy materials to such stockholders. In addition, certain directors, officers and other employees, without additional remuneration, may solicit proxies in person, or by telephone, facsimile, email and/or other methods of electronic communication. |
Q: | Where can I find the vote results after the special meeting? |
A: | We will announce preliminary voting results at the special meeting. We will also disclose voting results in a Current Report on Form 8-K to be filed with the SEC within four (4) business days after the special meeting. If final voting results are not available to us in time to file a Current Report on Form 8-K within four (4) business days after the special meeting, we will disclose the preliminary voting results in the Current Report on Form 8-K and disclose the final results in an amendment to such Current Report on Form 8-K within four (4) business days after such final results become available. |
Q: | What are the material U.S. federal income tax considerations of the merger? |
A: | The exchange of shares for cash pursuant to the merger will be a taxable transaction for U.S. federal income tax purposes. If you are a U.S. Holder (as such term is defined below in the section entitled “Proposal 1: Adoption of the Merger Agreement - The Merger - U.S. Federal Income Tax Considerations”), you will generally recognize gain or loss for U.S. federal income tax purposes in an amount equal to the difference, if any, between the amount of cash received by you in the merger and your adjusted tax basis in the shares surrendered in the merger. |
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Q: | What will the holders of outstanding Eventbrite equity awards receive in the merger? |
A: | For information regarding the treatment of Eventbrite’s outstanding equity awards, see the section entitled “Proposal 1: Adoption of the Merger Agreement - Terms of the Merger Agreement - Merger Consideration - Treatment of Equity Compensation” beginning on page 61. |
Q: | Am I entitled to appraisal rights under the DGCL? |
A: | If the merger is adopted by Eventbrite’s stockholders having the requisite voting power, stockholders and beneficial owner of shares held either in voting trust or by a nominee on behalf of such person who take certain actions and meet certain conditions, including not voting (whether in person (including virtually) or by proxy) in favor of the adoption of the merger agreement and properly exercising and perfecting their demand for appraisal of their shares, will be entitled to appraisal rights in connection with the merger under Section 262 of the DGCL. This means that such holders and beneficial owners of shares would be entitled to have their shares appraised by the Delaware court and to receive payment in cash of the “fair value” of their respective shares, exclusive of any elements of value arising from the accomplishment or expectation of the merger, together with interest to be paid upon the amount determined to be fair value, if any, as determined by the court. Stockholders and beneficial owners who wish to seek appraisal of their shares are in any case encouraged to seek the advice of legal counsel with respect to the exercise of appraisal rights due to the complexity of the appraisal process. Stockholders and beneficial owners should refer to the discussion under the section entitled “Appraisal Rights” beginning on page 89 and the DGCL requirements for exercising appraisal rights reproduced and attached as Annex D to this proxy statement. |
Q: | What is “householding”? |
A: | We have adopted a procedure called “householding,” which is permitted by SEC rules. Under this procedure, we deliver a single copy of the Notice, and if applicable, our proxy materials to multiple stockholders who share the same address, unless we have received contrary instructions from one or more of such stockholders. This procedure reduces our printing costs, mailing costs and fees. Stockholders who participate in householding will continue to be able to access and receive separate proxy cards. Upon written or oral request, we will deliver promptly a separate copy of the Notice and, if applicable, our proxy materials to any stockholder at a shared address to which we delivered a single copy of any of these materials. To receive a separate copy, or, if a stockholder is receiving multiple copies, to request that we only send a single copy of the Notice and, if applicable, our proxy materials, such stockholder may contact us at (415) 692-7779 or: |
Q: | How can I obtain more information about Eventbrite? |
A: | You can find more information about us from various sources described in the section entitled “Where You Can Find More Information” beginning on page 96. |
Q: | Who can help answer my questions? |
A: | If you have any questions concerning the merger, the special meeting or this proxy statement, would like to receive additional copies of this proxy statement or need help voting your shares, please contact our proxy solicitor: |
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• | the ability of the parties to consummate the merger within the anticipated time period or at all; |
• | the satisfaction (or valid waiver) of the closing conditions to the consummation of the merger, including, among other conditions, the expiration or termination of any waiting period (or any extension thereof) under the HSR Act; |
• | potential delays in the consummation of the merger; |
• | risks associated with the disruption of Eventbrite management’s attention from ongoing business operations due to the pendency and announcement of the merger; |
• | the occurrence of any event, change, state of facts, development or other circumstance that could give rise to the termination of the merger agreement, including under circumstances requiring Eventbrite to pay a termination fee and/or other expenses to Bending Spoons upon the termination of the merger agreement, as further described in the section entitled “Proposal 1: Adoption of the Merger Agreement - Terms of the Merger Agreement - Termination of the Merger Agreement - Termination Fee” beginning on page 80; |
• | Eventbrite’s ability to implement its business strategy; |
• | significant transaction costs associated with the merger; |
• | the possibility that the merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; |
• | the risk that Eventbrite’s stock price may decline significantly if the merger is not consummated; |
• | the risk that business disruptions due to the merger may harm Eventbrite’s business, including its current plans and operations and employee retention; |
• | restrictions during the pendency of the merger that may impact Eventbrite’s ability to pursue certain business opportunities or strategic transactions; |
• | the effects of the announcement, pendency or completion of the merger on Eventbrite’s relationships with employees, customers, creators, vendors or other business partners, including potential adverse reactions or changes to business relationships resulting from the announcement or completion of the merger; |
• | potential business uncertainty, including changes to Eventbrite’s existing business relationships, during the pendency of the merger that could affect Eventbrite’s financial performance; |
• | legislative, regulatory and economic developments affecting Eventbrite’s business; |
• | general macroeconomic and market developments and conditions and the geopolitical environment; |
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• | the nature, cost and outcome of any potential litigation relating to the merger or any of the other proposed transactions contemplated by the merger agreement; |
• | the ability of Bending Spoons to successfully integrate Eventbrite’s operations, product lines and services; |
• | unpredictability and severity of catastrophic events, including, but not limited to, any acts of terrorism, pandemics or outbreaks of war or hostilities, as well as Eventbrite’s response to any of the aforementioned events or related factors; and |
• | the risks and uncertainties pertaining to Eventbrite’s business, including those set forth in Part I, Item 1A of Eventbrite’s most recent Annual Report on Form 10-K and Part II, Item 1A of Eventbrite’s subsequent Quarterly Reports on Form 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports filed by Eventbrite with the SEC. |
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• | submitting a new proxy electronically over the Internet or by telephone after the date of the earlier submitted proxy; |
• | delivering a written notice of revocation to our Corporate Secretary; |
• | signing another proxy card with a later date and returning it to us prior to the special meeting; or |
• | attending the special meeting and voting online during the special meeting at www.virtualshareholdermeeting.com/EB2026SM. |
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• | Recommendation of the Special Committee. The Special Committee’s analysis (including of the terms and conditions of the merger), conclusions and unanimous determination that the merger agreement and the voting and support agreement and the transactions contemplated by each of the foregoing, including the merger, are advisable, fair to and in the best interests of Eventbrite and its stockholders. The Eventbrite Board also considered the Special Committee’s unanimous recommendation that the Eventbrite Board authorize, approve and adopt the merger agreement, the voting and support agreement and the reinvestment letter and the transactions contemplated by each of the foregoing, including the merger. |
• | Premium to Market Price. The fact that the merger consideration of $4.50 per share in cash to be received by holders of Eventbrite shares in the merger represents a significant premium over the market price at which shares of Class A common stock traded prior to the announcement of the execution of the merger agreement, including the fact that the merger consideration represents a premium of: |
• | approximately 81% to the closing stock price of $2.49 per share of Class A common stock on November 28, 2025; |
• | approximately 77% to the volume weighted average stock price of $2.54 per share of Class A common stock during the one-month trading period ended November 28, 2025; |
• | approximately 9% over the 52-week high trading price of $4.12 per share of Class A common stock for the period ended November 28, 2025; and |
• | approximately 149% over the 52-week low trading price of $1.81 per share of Class A common stock for the period ended November 28, 2025. |
• | Form of Consideration. The fact that the proposed merger consideration is all cash, which provides Eventbrite stockholders with certainty of value and liquidity for their Eventbrite shares while eliminating long-term business and execution risks. |
• | Fair Value. The Eventbrite Board believes that the merger consideration represents fair value for Eventbrite shares, taking into account the Eventbrite Board’s familiarity with Eventbrite’s current and historical financial condition, results of operations, business, competitive position and prospects, as well as Eventbrite’s future business plan and potential long-term value. |
• | Market Check. After receipt of Bending Spoons’ acquisition proposal, Eventbrite, with the assistance of Allen & Company, approached several potential strategic and financial counterparties, including those considered most likely to have potential interest in acquiring Eventbrite. Representatives of Eventbrite held introductory calls with several counterparties and Eventbrite entered into non-disclosure agreements with seven (7) counterparties and provided virtual data room access to six (6) counterparties. One (1) counterparty submitted an indication of interest, which offered a purchase price lower than Bending Spoons’ proposal. All counterparties (other than Bending Spoons) discontinued discussions with Eventbrite prior to Eventbrite’s entry into the merger agreement. |
• | Arm’s-Length Negotiations. The fact that the Eventbrite Board and Eventbrite senior management, in coordination with Eventbrite’s outside legal and financial advisors, vigorously negotiated on an arm’s-length basis with Bending Spoons and its outside legal advisor with respect to price and the other terms and |
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• | Review of Potential Strategic Alternatives. The Eventbrite Board considered, after a thorough review of Eventbrite’s long-term strategic goals and opportunities, the current and prospective business environment in which Eventbrite operates, including international, national, and local economic conditions and competitive environment and short- and long-term performance in light of Eventbrite’s strategic plan, the challenges and risks of continuing as a standalone public company and potential strategic alternatives available to Eventbrite. Following such review, the Eventbrite Board determined that the value offered to Eventbrite’s stockholders pursuant to the merger agreement is more favorable to Eventbrite’s stockholders than the alternatives, including (i) remaining an independent public company and pursuing Eventbrite’s long-range plan and (ii) pursuing other potential strategic alternatives (in each case, taking into account the potential risks, rewards and uncertainties associated with each of the foregoing alternatives). |
• | Risks Inherent in Eventbrite’s Business Plan. The Eventbrite Board considered Eventbrite’s short-term and long-term financial projections and the perceived challenges and risks associated with Eventbrite’s ability to meet such projections, taking into account Eventbrite’s historical financial performance (including Eventbrite’s past total revenue) and forecasted revenue growth. The Eventbrite Board also evaluated Eventbrite’s then-current business plan and the potential opportunities and risks to achieving the business plan, including the ability to generate and grow paid ticket volume by attracting and retaining creators, consumers and locally relevant events in the regions that Eventbrite operates; the pricing and composition of Eventbrite’s packages; certain risks related to factors adversely affecting the live event market that could impact results of operations; the competitive impediments to Eventbrite’s ability to secure new and retain existing consumers and creators; and the risks and uncertainties described in the “risk factors” and “forward-looking statements” sections of Eventbrite’s disclosures filed with the SEC, including the fact that Eventbrite’s actual financial results in future periods could differ materially and adversely from projected results. |
• | Best Value Reasonably Available. The Eventbrite Board considered, after a thorough review of the process conducted, that a purchase price of $4.50 per share in cash and the terms of the merger agreement offer the best value reasonably attainable for holders of Eventbrite shares. |
• | Opinion of Eventbrite’s Financial Advisor. The opinion, dated December 1, 2025, of Allen & Company to the Eventbrite Board as to the fairness, from a financial point of view and as of such date, of the merger consideration to be received by holders of Eventbrite shares (other than, as applicable, holders of Eventbrite shares who execute a voting and support agreement in connection with the merger, Bending Spoons S.p.A., Bending Spoons, Merger Sub, and their respective affiliates) pursuant to the merger agreement, which opinion was based on and subject to the various assumptions made, procedures followed, matters considered and qualifications and limitations on the review undertaken as set forth in such opinion and more fully described below in the section entitled “Proposal 1: Adoption of the Merger Agreement - The Merger - Opinion of Eventbrite’s Financial Advisor” beginning on page 43. |
• | Terms of the Merger Agreement. The Eventbrite Board considered that the terms and provisions of the merger agreement, including the respective representations, warranties and covenants and termination rights of the parties and the termination fee that could become payable by Eventbrite, are reasonable and customary. The Eventbrite Board also believes that the terms of the merger agreement include the most favorable terms reasonably attainable by Eventbrite from Bending Spoons. |
• | Loss of Opportunity. The Eventbrite Board considered the possibility that, if it declined to proceed with the merger, there may not be another opportunity for Eventbrite’s stockholders to receive comparable benefits pursuant to a comparably priced transaction. |
• | Conditions to the Consummation of the Merger; Likelihood of Closing. The Eventbrite Board considered the reasonable likelihood of the consummation of the transactions contemplated by the merger agreement in light of the conditions in the merger agreement to the obligations of Bending Spoons, as well as Bending Spoons’ |
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• | Regulatory Approvals. The Eventbrite Board considered the fact that the merger agreement requires that Bending Spoons use its reasonable best efforts to take certain actions necessary to obtain regulatory clearance and satisfy the regulatory conditions, including the fact that Bending Spoons agreed to accept potential remedies to obtain regulatory approval, including divestitures or other remedies on Bending Spoons or its subsidiaries or on Eventbrite or its subsidiaries, in each case, unless such divestitures or other remedies would reasonably be expected to result in a material adverse effect on, respectively, the value of Bending Spoons and its subsidiaries, taken as a whole, or the value of Eventbrite and its subsidiaries, taken as a whole. For a more complete description of Bending Spoons’ obligations to obtain required regulatory approvals, see the section below entitled “Proposal 1: Adoption of the Merger Agreement - Terms of the Merger Agreement - Additional Agreements - Efforts to Complete the Merger” beginning on page 72. The merger agreement also provides an “outside date” by which time the Eventbrite Board believes it would be reasonable to expect to satisfy the regulatory conditions set forth in the merger agreement. For a more complete description of the outside date, see the section below entitled “Proposal 1: Adoption of the Merger Agreement - Terms of the Merger Agreement - Termination of the Merger Agreement - Termination” beginning on page 78. |
• | No Financing Condition. The Eventbrite Board considered Bending Spoons’ representations and covenants contained in the merger agreement relating to Bending Spoons’ financial position and the fact that the merger is not subject to a financing condition. Bending Spoons represented to Eventbrite that it has, and will have available to it, at the closing of the merger, unencumbered cash or cash equivalents that are in the aggregate sufficient to consummate the transactions in accordance with the terms of the merger agreement. |
• | Ability to Respond to Certain Unsolicited Acquisition Proposals. The Eventbrite Board considered the fact that, while the merger agreement restricts Eventbrite’s ability to solicit competing bids to acquire it, Eventbrite has rights, under certain circumstances, to engage in discussions with, and provide information to, third parties submitting unsolicited written acquisition proposals and to terminate the merger agreement to enter into an alternative acquisition agreement that the Eventbrite Board determines to be a superior proposal; provided, that, Eventbrite concurrently pays a $14.4 million termination fee to Bending Spoons. The Eventbrite Board further considered that the expected timing of the merger would provide sufficient opportunity for any such third parties to submit proposals. For a more complete description, see the section below entitled “Proposal 1: Adoption of the Merger Agreement - Terms of the Merger Agreement - Additional Agreements - No Solicitation” beginning on page 68. |
• | Voting and Support Agreement. The Eventbrite Board considered that Ms. Hartz, Kevin Hartz and their respective trusts and holding entities would enter into a voting and support agreement with Bending Spoons pursuant to which, among other things, such holders agree to vote, or cause to be voted, all of their voting shares in favor of the approval and adoption of the merger agreement and the merger and other transactions contemplated thereby, along with the fact that such voting and support agreement would automatically terminate if Eventbrite terminates the merger agreement to enter into an alternative acquisition agreement that the Eventbrite Board determines to be a superior proposal. For a more complete description of the voting and support agreement, see the section entitled “Proposal 1: Adoption of the Merger Agreement - Voting and Support Agreement” beginning on page 82. |
• | Change of Recommendation. The Eventbrite Board considered the fact that it has the right to change its recommendation to Eventbrite stockholders if a superior proposal is received or in connection with an intervening event, subject to certain limitations and conditions set forth in the merger agreement; provided, that, Eventbrite pays a $14.4 million termination fee to Bending Spoons if Bending Spoons terminates the merger agreement after any such change in the Eventbrite Board’s recommendation. For a more complete discussion, see the section entitled “Proposal 1: Adoption of the Merger Agreement - Terms of the Merger Agreement - Additional Agreements - Change of Recommendation” beginning on page 70. |
• | Appraisal Rights. The Eventbrite Board considered the availability of appraisal rights with respect to the merger for Eventbrite stockholders and certain beneficial owners who properly exercise and perfect their demand for appraisal of their respective shares under Section 262 of the DGCL, which would give such |
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• | Julia Hartz’s Treatment in the Merger. The Eventbrite Board considered that Ms. Hartz is not treated differently from other Eventbrite stockholders in the merger (other than (i) her opportunity to reinvest a portion of her after-tax closing proceeds in Bending Spoons S.p.A. and (ii) the reimbursement of fees and expenses incurred by Ms. Hartz’s legal and tax advisors in connection with the merger, up to a specified maximum aggregate amount), including the fact that Ms. Hartz would not have a post-closing role in the surviving corporation and will not have the ability to “roll over” any of her Eventbrite equity securities into Bending Spoons S.p.A., Bending Spoons or any of their respective affiliates on a tax favorable basis. |
• | No Stockholder Participation in Future Growth or Earnings. The fact that Eventbrite’s stockholders will lose the opportunity to realize the potential long-term value through the successful execution of Eventbrite’s current strategy as an independent public company following the consummation of the merger. |
• | Impact of Announcement on Eventbrite. The fact that the announcement and pendency of the merger, or the failure to consummate the merger, may result in significant costs to Eventbrite and cause substantial harm to Eventbrite’s relationships with its employees (including making it more difficult to attract and retain key personnel and the possible loss of key management and other personnel) and its existing and prospective customers, creators, vendors, providers and partners. |
• | Diversion of Management Attention. The Eventbrite Board considered the substantial time and effort of Eventbrite management required to consummate the merger, which could disrupt Eventbrite’s business operations and may divert employees’ attention from Eventbrite’s day-to-day operations. |
• | Tax Treatment. The fact that the all-cash transaction would be taxable to holders of Eventbrite shares for U.S. federal income tax purposes. For a more detailed discussion of such tax considerations, see the section entitled “Proposal 1: Adoption of the Merger Agreement - The Merger - U.S. Federal Income Tax Considerations” beginning on page 56. |
• | Closing Certainty. The fact that there can be no assurance that all conditions to the parties’ obligations to consummate the merger will be satisfied, including, among other conditions, the expiration or termination of any waiting period (or any extension thereof) under the HSR Act, on the anticipated timeline (or at all). |
• | Pre-Closing Covenants. The Eventbrite Board considered the restrictions on Eventbrite’s conduct of business prior to completion of the merger contained in the merger agreement, which could delay or prevent Eventbrite from pursuing certain business opportunities that may arise or taking other actions with respect to its operations during the pendency of the merger, without Bending Spoons’ consent. |
• | No Solicitation. The Eventbrite Board considered the restrictions in the merger agreement on Eventbrite’s ability to solicit competing acquisition proposals. |
• | Termination Fee. The Eventbrite Board considered the termination fee of $14.4 million that could become payable to Bending Spoons under specified circumstances, including, among other circumstances, upon the termination of the merger agreement after the Eventbrite Board authorizes Eventbrite to enter into an alternative acquisition agreement to consummate the transactions contemplated by a superior proposal, and concluded that the termination fee is reasonable in amount, consistent with or below fees in comparable transactions, and will not unduly deter any other third party that might be interested in acquiring Eventbrite. |
• | No Reverse Termination Fee. The Eventbrite Board considered the fact that if the merger is not completed, including, among other circumstances, as a result of regulatory impediments, Bending Spoons will not be obligated to pay any “reverse termination fee” to Eventbrite. |
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• | Loss of Key Personnel. The risk that, despite retention efforts prior to consummation of the merger, Eventbrite may lose personnel during the period prior to the closing of the merger, and the impact of such losses. |
• | Transaction Costs. The transaction costs to be incurred in connection with the merger, regardless of whether the merger is completed. |
• | Julia Hartz’s Reinvestment Opportunity and Expense Reimbursement. The Eventbrite Board considered the fact that Ms. Hartz would enter into a reinvestment letter with Bending Spoons S.p.A. pursuant to which she would have an opportunity to invest a portion of the after-tax proceeds from her merger consideration into Bending Spoons S.p.A. following the consummation of the merger, as well as her ability to receive reimbursement of fees and expenses incurred by her legal and tax advisors in connection with the merger, up to a specified maximum aggregate amount. |
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• | reviewed the financial terms of an execution version, provided to Allen & Company on December 1, 2025, of the merger agreement; |
• | reviewed certain publicly available historical business and financial information relating to Eventbrite, including public filings of Eventbrite, and historical market prices for Class A common stock; |
• | reviewed certain financial information relating to Eventbrite, including certain internal financial forecasts, estimates and other financial and operating data relating to Eventbrite, provided to or discussed with Allen & Company by the management of Eventbrite; |
• | held discussions with the management of Eventbrite relating to the operations, financial condition and prospects of Eventbrite; |
• | reviewed and analyzed certain publicly available information, including certain stock market data and financial information, relating to Eventbrite and selected companies with businesses that Allen & Company deemed generally relevant in evaluating Eventbrite; |
• | reviewed and analyzed certain publicly available financial information relating to selected transactions that Allen & Company deemed generally relevant in evaluating the merger; and |
• | conducted such other financial analyses and investigations as Allen & Company deemed necessary or appropriate for purposes of its opinion. |
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• | Angi Inc. |
• | CTS Eventim AG & Co., KGaA |
• | Etsy, Inc. |
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• | Fiverr International Ltd. |
• | Groupon, Inc. |
• | Live Nation Entertainment, Inc. |
• | Stub Hub Holdings, Inc. |
• | Tripadvisor, Inc. |
• | Upwork Inc. |
• | Vivid Seats Inc. |
• | Wix.com Ltd. |
Implied Equity Value Per Share Reference Ranges Based On: | Merger Consideration | |||||
CY2026E Adjusted EBITDA | CY2027E Adjusted EBITDA | |||||
$2.91 - $3.75 | $3.47 - $4.40 | $4.50 | ||||
Announcement Date | Acquiror | Target | ||||||||||
May 2025 | • | Door Dash, Inc. | • | Deliveroo plc | ||||||||
March 2023 | • | STG Partners, LLC (f/k/a Symphony Technology Group LLC) | • | Momentive Global Inc. | ||||||||
November 2020 | • | Clearlake Capital Group L.P. | • | Endurance International Group Holdings, Inc. | ||||||||
December 2019 | • | IAC Inc. | • | Care.com, Inc. | ||||||||
November 2019 | • | Viagogo Entertainment Inc. | • | Stub Hub Holdings, Inc. | ||||||||
June 2019 | • | Apollo Global Management LLC | • | Shutterfly, Inc. | ||||||||
September 2018 | • | WeddingWire, Inc. | • | XO Group Inc. | ||||||||
June 2018 | • | Siris Capital Group, LLC | • | Web.com Group, Inc. | ||||||||
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Implied Equity Value Per Share Reference Range | Merger Consideration | ||
$3.64 - $4.64 | $4.50 | ||
Implied Equity Value Per Share Reference Range | Merger Consideration | ||
$3.49 - $4.75 | $4.50 | ||
• | historical trading prices of Class A common stock during the 52-week period ended November 28, 2025, which indicated low and high intraday prices for Class A common stock during such period of approximately $1.81 per share and $4.12 per share, respectively; and |
• | publicly available Wall Street research analysts’ forward price targets for Class A common stock as of November 28, 2025, which indicated an overall low to high target price range for Class A common stock as of such date of $2.70 per share to $3.00 per share. |
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2025E | 2026E | 2027E | 2028E | 2029E | 2030E | 2031E | 2032E | 2033E | 2034E | 2035E | |||||||||||||||||||||||
Revenue ($mm) | 293 | 308 | 335 | 370 | 409 | 452 | 493 | 530 | 561 | 588 | 609 | ||||||||||||||||||||||
Adjusted EBITDA ($mm)(1) | 27 | 31 | 41 | 57 | 74 | 90 | 99 | 106 | 112 | 117 | 122 | ||||||||||||||||||||||
Net Operating Profit After Tax ($mm) | (18) | (11) | 3 | 15 | 27 | 38 | 42 | 45 | 47 | 49 | 51 | ||||||||||||||||||||||
Unlevered Free Cash Flow ($mm)(2) | (2) | 1 | 12 | 25 | 37 | 50 | 54 | 58 | 61 | 64 | 66 | ||||||||||||||||||||||
(1) | “Adjusted EBITDA” is a non-GAAP measure that is defined as operating income excluding: (1) stock-based compensation expense; (2) depreciation; (3) amortization of intangible assets; and (4) gains and losses recognized on changes in the fair value of contingent consideration arrangements. This measure should not be considered as an alternative to measures derived in accordance with GAAP. |
(2) | “Unlevered Free Cash Flow,” which was mathematically derived by Allen & Company from the long-range plan for purposes of its discounted cash flow analysis, is a non-GAAP measure that reflects Net Operating Profit After Tax, less capital expenditures, plus change in net working capital, depreciation and amortization, and other non-operating items. This measure should not be considered as an alternative to measures derived in accordance with GAAP. |
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Name | Position | ||
Julia Hartz* | Chief Executive Officer | ||
Anand Gandhi* | Chief Financial Officer | ||
Ted Dworkin* | Chief Product Officer | ||
Lisa Gorman^ | General Counsel | ||
Vivek Sagi* | Former Chief Technology Officer | ||
Julia Taylor* | Former General Counsel | ||
* | These individuals were each a “named executive officer” for purposes of the definitive proxy statement for the 2025 annual meeting of Eventbrite’s stockholders, filed by Eventbrite on April 24, 2025 (which we refer to as the 2025 proxy statement). Mr. Sagi, Eventbrite’s former Chief Technology Officer, who was a named executive officer for the purposes of the 2025 proxy statement, resigned effective May 16, 2025. Ms. Taylor, Eventbrite’s former General Counsel, who was a named executive officer for the purposes of the 2025 proxy statement, resigned effective May 2, 2025. Lanny Baker, Eventbrite’s former Chief Financial and Operating Officer, who was also a named executive officer for purposes of the 2025 proxy statement, resigned effective December 31, 2024. |
^ | Ms. Gorman was appointed Eventbrite’s General Counsel on May 2, 2025. Prior to May 2, 2025, Ms. Gorman served as Eventbrite’s Vice President, Deputy General Counsel. |
• | the relevant price per share of company common stock is $4.50 per share, which is the merger consideration; |
• | the assumed effective time is 11:59 p.m., Pacific Time, on December 15, 2025, which is the assumed date of the effectiveness of the merger solely for purposes of the narrative and tables set forth below; |
• | the executive officers each experience a qualifying termination (i.e., a termination of employment by Eventbrite and/or Bending Spoons without “cause” or by the executive for “good reason,” as such terms are defined in the severance agreements, further defined and discussed below in “Potential Payments to Executive Officers upon Termination in Connection with a Change in Control - Severance”) immediately following the assumed effective time of 11:59 p.m., Pacific Time, on December 15, 2025; |
• | the directors’ service on the Eventbrite Board is terminated immediately following the assumed effective time of 11:59 p.m., Pacific Time, on December 15, 2025; |
• | the executive officer’s base salary rate and annual target bonus are those in effect as of December 15, 2025; |
• | no executive officers or directors receive any additional equity grants or other awards following December 15, 2025 on or prior to the effective time; and |
• | outstanding vested and unvested equity and equity-based awards held by our executive officers and directors, in each case, were their respective holdings as of December 15, 2025, and values for Eventbrite options are calculated in accordance with the Black-Scholes model to be used for cash payments in respect of options (which uses an expected term of the options calculated from November 29, 2025). Depending on when the merger is completed, certain Eventbrite awards that were unvested as of December 15, 2025, and included in the tables below may vest or be forfeited pursuant to their terms, independent of the merger. |
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• | accelerated payment to December 2025 of the 2025 annual bonuses that would otherwise have been paid in 2026, assuming achievement of 26.25%, target, including for the following executive officers: Ms. Hartz ($131,250), Mr. Gandhi ($84,525), Mr. Dworkin ($59,483), and Ms. Gorman ($53,419), which we collectively refer to as the accelerated bonuses; and |
• | accelerated vesting and settlement of certain Eventbrite RSUs and Eventbrite PSUs to December 2025 that would have otherwise vested in 2026, 2027 or 2028, as further described in the Current Report on Form 8-K filed with the SEC on December 19, 2025, which we collectively refer to as the 280G equity acceleration. |
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Eventbrite Options | ||||||||||||||||||||||||
Vested Eventbrite Options | Unvested Eventbrite Options | Total Eventbrite Options | Eventbrite RSUs | Eventbrite PSUs | ||||||||||||||||||||
Name | Number (#)(1) | Number (#)(1) | Number (#)(1) | Value ($)(1) | Number (#)(2) | Value ($)(3) | Number (#)(4) | Value ($)(3) | ||||||||||||||||
Executive Officers | ||||||||||||||||||||||||
Julia Hartz | 6,997,814 | 93,734 | 7,091,548 | 1,574,982 | 1,150,235 | 5,176,058 | 1,632,688 | 7,347,096 | ||||||||||||||||
Anand Gandhi | — | — | — | — | 1,038,062 | 4,671,279 | 709,656 | 3,193,452 | ||||||||||||||||
Ted Dworkin | 168,329 | 69,313 | 237,642 | 226,251 | 539,526 | 2,427,867 | 396,944 | 1,786,248 | ||||||||||||||||
Lisa Gorman | 2,084 | — | 2,084 | 454 | 158,415 | 712,868 | 90,909 | 409,091 | ||||||||||||||||
Vivek Sagi(5) | — | — | — | — | — | — | — | — | ||||||||||||||||
Julia Taylor(5) | — | — | — | — | — | — | — | — | ||||||||||||||||
Non-Employee Directors | ||||||||||||||||||||||||
Katherine August-deWilde | 36,470 | — | 36,470 | 17,553 | 79,051 | 355,730 | — | — | ||||||||||||||||
Jane Lauder | 44,466 | — | 44,466 | 19,152 | 173,577 | 781,097 | — | — | ||||||||||||||||
Pilar Manchón | — | — | — | — | 133,154 | 599,193 | — | — | ||||||||||||||||
Sean P. Moriarty | 97,194 | — | 97,194 | 23,259 | 156,484 | 704,178 | — | — | ||||||||||||||||
Helen Riley | 311,513 | — | 311,513 | 49,523 | 173,577 | 781,097 | — | — | ||||||||||||||||
April Underwood | 6,852 | — | 6,852 | 4,776 | 156,484 | 704,178 | — | — | ||||||||||||||||
Naomi Wheeless | 20,926 | — | 20,926 | 10,754 | 79,051 | 355,730 | — | — | ||||||||||||||||
(1) | The amounts in this column consist solely of Eventbrite options with an exercise price that is equal to or greater than the merger consideration, which are the Eventbrite options held by these individuals. These “out-of-the-money” Eventbrite options will be cancelled and converted into the right to receive (without interest) a cash payment determined based on a Black-Scholes model, which is reflected as the value in this table. |
(2) | The amounts in this column include, without limitation, deferred stock units held by our non-employee directors. The table excludes 290,698 RSUs awarded to Ms. Gorman on December 18, 2025, which was after the assumed effective time used for purposes of preparing this table. |
(3) | Amounts in these columns are calculated based on the merger consideration of $4.50 per share of common stock. |
(4) | The amounts in this column consist solely of Eventbrite PSU grants, deemed achieved at the target performance level. |
(5) | Mr. Sagi, Eventbrite’s former Chief Technology Officer, who was a named executive officer for purposes of the 2025 proxy statement, resigned effective May 16, 2025. Ms. Taylor, Eventbrite’s former General Counsel, who was a named executive officer for purposes of the 2025 proxy statement, resigned effective May 2, 2025. Neither have outstanding equity awards as of the effective date. |
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• | Twelve (12) months of his or her then-current salary, payable via a lump sum amount (except for Ms. Gorman, who will receive such severance in the form of salary continuation over twelve (12) months); |
• | Full acceleration, exercisability (if applicable), and non-forfeitability of his or her equity awards; and |
• | Up to twelve (12) months of monthly cash subsidies for COBRA health continuation (which we refer to as the COBRA Cash Severance Entitlements). |
Name | Cash Severance ($) | COBRA Cash Severance Entitlements ($) | Total Severance ($) | ||||||
Julia Hartz | $500,000 | $30,000 | $530,000 | ||||||
Anand Gandhi | $460,000 | $30,000 | $490,000 | ||||||
Ted Dworkin | $412,000 | $30,000 | $442,000 | ||||||
Lisa Gorman | $370,000 | $30,000 | $400,000 | ||||||
Name | Target 2025 Annual Bonus(1) ($) | ||
Julia Hartz | $500,000 | ||
Anand Gandhi | $322,000 | ||
Ted Dworkin | $226,600 | ||
Lisa Gorman | $203,500 | ||
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(1) | Amounts reflected in this column are based on target bonus amounts, as final bonus payouts will be determined based on Eventbrite’s actual performance in 2025. Final bonus payouts will be subject to positive or negative adjustment based on actual performance against Eventbrite goals. |
Name | Cash ($)(2) | Equity ($)(3) | Other ($)(4) | Total ($) | ||||||||
Julia Hartz | 530,000 | 12,601,616 | 131,250 | 13,262,866 | ||||||||
Anand Gandhi | 490,000 | 7,864,731 | 84,525 | 8,439,256 | ||||||||
Ted Dworkin | 442,000 | 4,280,106 | 59,483 | 4,781,589 | ||||||||
Vivek Sagi(1) | — | — | — | — | ||||||||
Julia Taylor(1) | — | — | — | — | ||||||||
Lanny Baker(1) | — | — | — | — | ||||||||
(1) | Mr. Sagi, Eventbrite’s former Chief Technology Officer, who was a named executive officer for purposes of the 2025 proxy statement, resigned effective May 16, 2025. Ms. Taylor, Eventbrite’s former General Counsel, who was a named executive officer for purposes of the 2025 proxy statement, resigned effective May 2, 2025. Mr. Baker, Eventbrite’s former Chief Financial and Operating Officer, who was a named executive officer for purposes of the 2025 proxy statement, resigned effective December 31, 2024. |
(2) | The values in this column include cash severance and COBRA cash severance estimated entitlements that would be payable at the closing of the merger in connection with a qualifying termination, as detailed in the table below. Both cash severance amounts and COBRA cash severance entitlements are “double trigger” and therefore payable upon a qualifying termination of employment. Messrs. Sagi and Baker and Ms. Taylor are not eligible for severance payments due to their resignations. For additional information, see “Interests of the Non-Employee Directors and Executive Officers of Eventbrite in the Merger - Potential Payments to Executive Officers upon Termination in Connection with a Change in Control - Severance.” The values in this column do not include an estimate of each named executive officer’s 2025 annual bonus, which will be payable at the time when annual bonuses have historically been paid to service providers of Eventbrite, based on actual performance against Eventbrite goals, except as otherwise provided in footnote 4 to this table. For additional information, see “Interests of the Non-Employee Directors and Executive Officers of Eventbrite in the Merger - Potential Payments to Executive Officers upon Termination in Connection with a Change in Control - 2025 Annual Bonuses.” |
Name | Cash Severance ($) | COBRA Cash Severance Entitlements ($) | Total ($) | ||||||
Julia Hartz | 500,000 | 30,000 | 530,000 | ||||||
Anand Gandhi | 460,000 | 30,000 | 490,000 | ||||||
Ted Dworkin | 412,000 | 30,000 | 442,000 | ||||||
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Name | Cash Severance ($) | COBRA Cash Severance Entitlements ($) | Total ($) | ||||||
Vivek Sagi | — | — | — | ||||||
Julia Taylor | — | — | — | ||||||
Lanny Baker | — | — | — | ||||||
(3) | The values in this column include future accelerated vesting of unvested Eventbrite RSUs, Eventbrite PSUs, and Eventbrite options for each named executive officer that were outstanding as of December 15, 2025. For additional information on the treatment of equity in connection with the merger, see “Treatment of Equity Compensation.” This accelerated vesting is “single trigger” and therefore payable upon the closing of the merger. In addition, as agreed in the merger agreement, all of the Eventbrite options, including those held by Eventbrite’s named executive officers, that are “out-of-the-money” will be cancelled and converted into the right to receive (without interest) a cash payment determined based on a Black-Scholes model. For additional information, see “Interests of the Non-Employee Directors and Executive Officers of Eventbrite in the Merger - Summary of Equity Compensation held by Eventbrite’s Non-Employee Directors and Executive Officers.” |
Name | Eventbrite RSUs ($) | Eventbrite PSUs ($) | Eventbrite Options ($) | Total ($) | ||||||||
Julia Hartz | 5,176,058 | 7,347,096 | 78,462 | 12,601,616 | ||||||||
Anand Gandhi | 4,671,279 | 3,193,452 | — | 7,864,731 | ||||||||
Ted Dworkin | 2,427,867 | 1,786,248 | 65,991 | 4,280,106 | ||||||||
Vivek Sagi | — | — | — | — | ||||||||
Julia Taylor | — | — | — | — | ||||||||
Lanny Baker | — | — | — | — | ||||||||
(4) | The values in this column include accelerated bonuses paid on December 18, 2025. Messrs. Sagi and Baker and Ms. Taylor are not eligible for 2025 annual bonuses due to their resignations. For additional information, see “Interests of the Non-Employee Directors and Executive Officers of Eventbrite in the Merger - 280G Mitigation Actions.” |
Name | Accelerated Bonuses ($) | ||
Julia Hartz | 131,250 | ||
Anand Gandhi | 84,525 | ||
Ted Dworkin | 59,483 | ||
Vivek Sagi | — | ||
Julia Taylor | — | ||
Lanny Baker | — | ||
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• | banks, insurance companies and other financial institutions; |
• | brokers or dealers in securities; |
• | traders in securities who elect to apply a mark-to-market method of accounting; |
• | regulated investment companies, real estate investment trusts and mutual funds; |
• | tax-exempt entities or governmental organizations; |
• | holders who hold their shares as part of a “straddle,” hedge, constructive sale, or other integrated transaction or conversion transaction or similar transactions; |
• | holders whose functional currency is not the U.S. dollar; |
• | partnerships, other entities or arrangements classified as partnerships for U.S. federal income tax purposes, “S corporations,” any other pass-through entities for U.S. federal income tax purposes (or investors in such entities); |
• | passive foreign investment companies and controlled foreign corporations; |
• | persons subject to any alternative minimum tax; |
• | holders who exercise their appraisal rights in the merger; |
• | U.S. expatriates and former citizens or long-term residents of the United States; |
• | persons subject to special tax accounting rules as a result of any item of gross income with respect to shares being taken into account in an “applicable financial statement” as defined in Section 451(b) of the Code; |
• | holders that own or have owned (directly, indirectly or constructively) 5% or more of shares (by vote or value); and |
• | holders that received their shares pursuant to the exercise of employee stock options, through a tax-qualified retirement plan or otherwise as compensation. |
• | an individual who is a citizen or resident of the United States; |
• | a corporation, or other entity treated as a corporation for U.S. federal income tax purposes, created or organized in or under the laws of the United States or any state thereof or the District of Columbia; |
• | an estate, the income of which is subject to U.S. federal income taxation regardless of its source; or |
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• | a trust (i) that is subject to the primary supervision of a court within the United States and one or more United States persons (as defined in Section 7701(a)(30) of the Code) have the authority to control all substantial decisions of the trust or (ii) that has a valid election in effect under applicable Treasury Regulations to be treated as a United States person as defined in Section 7701(a)(30) of the Code. |
(i) | The gain is effectively connected with a trade or business of such Non-U.S. Holder in the United States (and, if required by an applicable income tax treaty, is attributable to permanent establishment maintained by such Non-U.S. Holder in the United States), in which case such gain will generally be subject to U.S. federal income tax at rates generally applicable to a United States person as defined under the Code, and, if the Non-U.S. Holder is a corporation, such gain may also be subject to the branch profits tax at a rate of 30% (or a lower rate under an applicable tax treaty); |
(ii) | Such Non-U.S. Holder is an individual who is present in the United States for 183 days or more in the taxable year of the merger, and certain other conditions are met, in which case gain will be subject to U.S. federal income tax at a rate of 30% (or a lower rate under an applicable tax treaty), net of certain U.S. source losses from sales or exchanges of other capital assets, provided the Non-U.S. Holder has timely filed U.S. federal income tax returns with respect to such losses. |
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• | a letter of transmittal which will be in such form as Bending Spoons, Eventbrite and the paying agent reasonably agree; and |
• | instructions for returning such letter of transmittal in exchange for the merger consideration. |
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• | due organization, valid existence, good standing and qualification to do business; |
• | capitalization, including the number of shares of Class A common stock, Class B common stock, preferred stock, options and other stock-based awards outstanding and the ownership and capitalization of Eventbrite’s direct and indirect subsidiaries; |
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• | the absence of restrictions with respect to the shares of common stock of Eventbrite and equity securities of its direct and indirect subsidiaries; |
• | corporate authorization of the merger agreement and the transactions contemplated by the merger agreement and the valid and binding nature of the merger agreement; |
• | the approval and recommendation by the Eventbrite Board of the merger agreement, the voting and support agreement and the transactions contemplated by the merger agreement; |
• | inapplicability of anti-takeover statutes or similar laws and no stockholder rights plan, poison pill or similar device in effect; |
• | the absence of any conflicts with or violations of organizational documents and other agreements or laws; |
• | required filings with, and consents from, governmental entities in connection with the transactions contemplated by the merger agreement; |
• | compliance with SEC filing requirements, including the accuracy of the information contained in such documents and compliance with GAAP, and the rules and regulations of the SEC with respect to consolidated financial statements contained therein; |
• | internal controls and procedures relating to financial reporting; |
• | absence of undisclosed liabilities; |
• | the absence of certain material changes or events in the business of Eventbrite, including that, from December 31, 2024 to the date of the merger agreement, there has not been a material adverse effect; |
• | matters pertaining to this proxy statement; |
• | absence of certain litigation, proceedings or orders; |
• | compliance with applicable laws and orders; |
• | the possession of required permits necessary for the conduct of Eventbrite and its subsidiaries’ business, and absence of governmental investigations; |
• | employee benefit matters; |
• | employee and labor matters; |
• | environmental matters; |
• | real property and title to assets; |
• | tax matters; |
• | material contracts; |
• | intellectual property, data privacy and security; |
• | insurance matters; |
• | the absence of any undisclosed broker’s fee; |
• | the receipt by the Eventbrite Board of an opinion of Eventbrite’s financial advisor; and |
• | top customers and top vendors. |
• | due organization, valid existence, good standing and power and authority to do business; |
• | corporate authorization of the merger agreement and the transactions contemplated by the merger agreement and the valid and binding nature of the merger agreement; |
• | the absence of any conflicts with or violations of organizational documents and other agreements or laws; |
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• | required filings with, and consents from, governmental entities in connection with the transactions contemplated by the merger agreement; |
• | absence of litigation, proceedings or orders; |
• | financing; |
• | matters pertaining to this proxy statement; |
• | ownership of company common stock; |
• | ownership of Merger Sub; and |
• | the absence of any undisclosed broker’s fee. |
• | operating, business, regulatory or other conditions generally affecting and applicable to the industries in which Eventbrite and its subsidiaries operate their business; |
• | global, national or regional political, legislative, financial, economic, energy, capital market (including the prevailing interest rates, inflation or inflation rates, credit markets or exchange rates) or business conditions, including hostilities, acts of war, military activity, cyber-attacks on the United States or any other country by a state or other geopolitical actor, sabotage or terrorism, including an outbreak or escalation of hostilities involving the United States or any other country or the declaration by the United States or any other country of a national emergency or war (whether or not declared, and including the Russian-Ukrainian and Israeli-Palestinian conflicts, and escalations and effects thereof); |
• | changes in GAAP or any changes in applicable laws or the enforcement or the interpretation thereof, in each case, after the date of the merger agreement; |
• | hurricanes, earthquakes, floods or other natural disasters and other force majeure events in the United States or any other country or region in the world; |
• | any epidemic, pandemic or disease outbreak, quarantine restrictions, other outbreak or illness or public health event (whether human or animal); |
• | any effect arising from the execution or announcement of the merger agreement or pendency of the consummation of the transactions contemplated by the merger agreement (including the identity of Bending Spoons), including any impact on Eventbrite’s and its subsidiaries’ relationships with employees, contractors, customers, suppliers, distributors, regulators or business partners (provided, that, this clause does not apply to the “no conflicts” representation); |
• | any transaction litigation arising from allegations of breach of fiduciary duty or violation of law relating to the merger agreement or the transactions contemplated by the merger agreement; |
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• | any change in the market price or trading volume of the Class A common stock or the credit rating of Eventbrite and any changes in any analysts’ recommendations or ratings with respect to Eventbrite (provided, that, the underlying causes of and reasons for any such change may be taken into account in determining whether a material adverse effect has occurred); or |
• | the failure of Eventbrite and its subsidiaries to meet or achieve the results set forth in any internal, published or analysts’ expectations or projections, performance measures, budgets, guidance, estimates, or revenue, earnings or other financial or operating metric predictions (provided, that, the underlying causes of any such failure will be taken into account in determining whether there has been or would reasonably be expected to be a material adverse effect, unless any such cause is otherwise specifically excluded by one of the other clauses of this definition). |
• | amend the certificate of incorporation or bylaws or equivalent organizational documents of Eventbrite or any of its subsidiaries; |
• | (i) form any subsidiary, (ii) enter into any new line of business that would materially change the business of Eventbrite and its subsidiaries, taken as a whole, as of the date of the merger agreement, or abandon or discontinue any material and existing line of business, (iii) authorize or effect any material change to the principal business of Eventbrite and its subsidiaries, taken as a whole, as currently conducted and as currently proposed to be conducted, or (iv) agree to any covenant materially limiting the ability of Eventbrite or any of its affiliates or subsidiaries to compete or engage in any line of business or to compete with any person in any geographic area; |
• | issue, sell, pledge, dispose of, grant, transfer or encumber any shares of common stock of, or other equity interests in, Eventbrite or any of its subsidiaries of any class, or securities convertible into, or exchangeable or exercisable for, any shares of such common stock or other equity interests, or any options, warrants or other rights of any kind to acquire any shares of such common stock or other equity interests or such convertible or exchangeable securities of Eventbrite or any of its subsidiaries, other than the issuance of shares upon the exercise of Eventbrite options or settlement of Eventbrite RSUs or Eventbrite PSUs, or the issuance of shares pursuant to the Eventbrite ESPP, in each case, to the extent such right is outstanding as of the date of the merger agreement or is granted not in contravention of the merger agreement and in accordance with their terms; |
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• | sell, pledge, dispose of, transfer, lease, license, guarantee or encumber any material property (including leased real property) or assets of Eventbrite or any of its subsidiaries (other than intellectual property) having a value in excess of $250,000 individually or $500,000 in the aggregate, except (i) between or among Eventbrite and any of its wholly-owned subsidiaries (or between or among any such subsidiaries), (ii) with respect to leased real property, terminations at the end of the term of the applicable lease agreement or (iii) as required pursuant to existing contracts as of the date of the merger agreement; |
• | sell, assign, pledge, transfer, encumber, exclusively license or sublicense, abandon, allow to lapse or otherwise dispose of any material Eventbrite-owned intellectual property, except for (i) expiration of any Eventbrite-owned intellectual property at the end of its statutory term or (ii) otherwise in the ordinary course of business; |
• | declare, set aside, make or pay any dividend or other distribution (whether payable in cash, stock, property or a combination thereof) with respect to any of its common stock or other equity interests, except for dividends paid by a wholly-owned subsidiary of Eventbrite to Eventbrite or another wholly-owned subsidiary of Eventbrite; |
• | reclassify, combine, split, subdivide or amend the terms of, or redeem, purchase or otherwise acquire, directly or indirectly, any of its common stock or other equity interests, except with respect to any wholly-owned subsidiary of Eventbrite; |
• | merge or consolidate Eventbrite or any of its subsidiaries with any person or adopt a plan of complete or partial liquidation or resolutions providing for a complete or partial liquidation, dissolution, restructuring, recapitalization or other reorganization of Eventbrite or any of its subsidiaries, except with respect to any wholly-owned subsidiaries of Eventbrite; |
• | acquire any material assets (including, without limitation, any owned real property or leased real property) (other than acquisitions of raw materials, inventory held for sale and other property in the ordinary course of business) or any other person or business of any other person (whether by merger or consolidation, acquisition of stock or assets or by formation of a joint venture or otherwise), other than acquisitions (a) with a purchase price not greater than $250,000 individually and not greater than $500,000 in the aggregate; or (b) pursuant to agreements in effect prior to the execution of the merger agreement or those listed in the confidential disclosure schedules to the merger agreement; |
• | assume, guarantee or incur any indebtedness for borrowed money or issue any debt securities, in each case, in an aggregate principal amount in excess of $500,000, except for intercompany loans between or among any of Eventbrite and its direct or indirect wholly-owned subsidiaries; |
• | make any loans, advances or capital contributions to, or investments in, any other person (other than in the ordinary course of business consistent with past practice or between or among Eventbrite and any of its direct or indirect wholly-owned subsidiaries) in excess of $500,000 in the aggregate; |
• | assign, terminate, materially amend or waive any material right under any material contract or enter into any contract that, if existing on the date of the merger agreement, would have been a material contract (other than (i) terminations, extensions or renewals as a result of the expiration of the term of such material contract, (ii) entering into any contract that is on the Eventbrite’s standard form contract, or (iii) entering into or materially amending any contract with a customer, creator or vendor in the ordinary course of business); |
• | except to the extent required by the existing terms of any Eventbrite benefit plan, (i) increase the compensation or benefits payable or to become payable to service providers or grant or award any compensation or benefits, (ii) amend or terminate any Eventbrite benefit plan, or establish, adopt, or enter into any new arrangement that if in effect on the date of the merger agreement would be an Eventbrite benefit plan, (iii) accelerate vesting, exercisability or funding under any Eventbrite benefit plan, (iv) terminate (other than for cause) the employment of any employee with an annual base compensation of $250,000 or more or hire any employee or (v) modify, extend or enter into, or agree to assume or otherwise be bound by, any labor agreement; |
• | implement or announce any “mass layoff” or “plant closing” as defined under the Worker Adjustment and Retraining Notification Act (the “WARN Act”), or implement or announce any other action which would trigger the notice requirements of the WARN Act; |
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• | (i) voluntarily recognize any union as the bargaining representative of any employee of Eventbrite or any subsidiary of Eventbrite; or (ii) enter into, terminate or materially modify or amend any labor agreement; |
• | (i) settle or agree to settle any proceeding other than settlements or agreements that involve the payment of monetary damages not in excess of $750,000 in the aggregate (net of Eventbrite’s litigation loss reserve and any insurance coverage maintained by Eventbrite or any of its subsidiaries), in any case, without the imposition of equitable relief on, or the admission of wrongdoing by, Eventbrite or any of its subsidiaries, or (ii) commence or threaten to commence any proceeding or make any demand that could involve any payment of monetary damages in excess of $750,000 in the aggregate; |
• | other than as required by GAAP, make any capital expenditures in excess of $500,000 above the aggregate amount of capital expenditures set forth in the capital expenditures budget made available to Bending Spoons; |
• | other than in the ordinary course of business: (i) make, change or revoke any material tax election, (ii) make any material change in any accounting policies, practices, principles, methods or procedures, other than as required by GAAP or by a governmental entity, or change or revoke any material accounting period or method with respect to taxes, unless otherwise required by applicable law, (iii) enter into any material settlement or “closing agreement” within the meaning of Section 7121 of the Code (or any similar provision of state, local or non-U.S. law) with respect to any tax claim, notice, audit, assessment or dispute, (iv) surrender any right to claim a material tax refund, (v) file any material amended tax Return, (vi) consent to any extension or waiver of the statute of limitations period applicable to a material tax claim or assessment or (vii) request or enter into any ruling with a tax authority with respect to taxes; |
• | materially modify the terms and conditions under which Eventbrite’s products and services are offered to customers (other than in the ordinary course of business or as may be required to comply with applicable law); |
• | make any material amendments to Eventbrite’s insurance policies, or fail to use commercially reasonable efforts to maintain Eventbrite’s insurance policies in effect as of the date of the merger agreement or comparable replacement policies with respect to the material assets, operations and activities of Eventbrite and its subsidiaries; |
• | modify any privacy policy or the operation or security of any Eventbrite systems in any manner that is materially adverse to Eventbrite or any of its subsidiaries, except as required by applicable law, including in a manner that would restrict the ability of Eventbrite or any of its subsidiaries to process personal data currently processed by Eventbrite or its subsidiaries (beyond the restrictions currently contained in such privacy policies), unless required otherwise by information privacy requirements; |
• | convene any special meeting of Eventbrite stockholders (or postpone or adjourn any special meeting), or propose any matters for consideration and a vote of Eventbrite stockholders (other than the Eventbrite stockholder meeting for purposes of approving the merger agreement or any special meeting duly called by Eventbrite stockholders); or |
• | authorize or enter into any contract, or otherwise make any commitment to do any of the foregoing. |
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• | solicit, initiate, knowingly encourage or facilitate the making or submission of any acquisition proposal (it being understood and agreed that ministerial acts that are not otherwise prohibited by the merger agreement (such as answering unsolicited phone calls) will not be deemed to facilitate for purposes of, or otherwise constitute a violation, of this provision); |
• | furnish to any person (other than to Bending Spoons, Merger Sub or their respective representatives) any non-public information relating to Eventbrite or any of its subsidiaries or afford to any person (other than Bending Spoons or Merger Sub and their respective representatives) access to the business, properties, assets, books, records or other non-public information, or to any personnel, of Eventbrite or any of its subsidiaries, in any such case that relates to or could reasonably be expected to lead to an acquisition proposal; |
• | participate in or engage in discussions or negotiations with any person that relates to or could reasonably be expected to lead to an acquisition proposal; |
• | grant any waiver or release under Section 203 of the DGCL or any other state takeover law; or |
• | enter into any letter of intent, memorandum of understanding, merger agreement, acquisition agreement or other contract relating to an acquisition transaction, other than an acceptable confidentiality agreement. |
• | participate or engage in discussions or negotiations; |
• | furnish non-public information relating to Eventbrite or any of its subsidiaries; or |
• | afford access to the business, properties, assets, books, records or other non-public information, or to any personnel, of Eventbrite or any of its subsidiaries pursuant to an acceptable confidentiality agreement. |
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• | the Eventbrite Board determines in good faith (after consultation with Eventbrite’s outside legal counsel) that the failure to do so would be inconsistent with its fiduciary duties pursuant to applicable law; |
• | Eventbrite has provided prior written notice to Bending Spoons and Merger Sub at least four (4) business days in advance (which we refer to as the notice period) that the Eventbrite Board has received a superior proposal and intends to take such action, which notice must include the identity of the person making the superior proposal, an unredacted copy of the superior proposal that is the basis for the proposed action, it being understood that the delivery of a notice of superior proposal or any amendment or update thereto or the determination to so deliver such notice will not in and of itself constitute an Eventbrite Board recommendation change, so long as such notices are delivered privately to Bending Spoons and would not reasonably be expected to require public disclosure thereof; |
• | prior to taking such action, Eventbrite and its representatives, during the notice period, have negotiated with Bending Spoons and its representatives in good faith (to the extent that Bending Spoons desires to so negotiate) to make such adjustments to the terms and conditions of the merger agreement such that, after taking into account any adjustments to the terms and conditions of the merger agreement proposed by |
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• | in the event of any termination of the merger agreement in order to cause or permit Eventbrite to enter into an alternative acquisition agreement with respect to such acquisition proposal, Eventbrite must have validly terminated the merger agreement, including paying the termination fee. |
• | Eventbrite has provided prior written notice to Bending Spoons and Merger Sub at least three (3) business days in advance that the Eventbrite Board intends to effect an Eventbrite Board recommendation change, which notice must describe the applicable intervening event in reasonable detail; and |
• | prior to effecting such Eventbrite Board recommendation change, Eventbrite and its representatives, during such three (3)-business day period, must have negotiated with Bending Spoons and its representatives in good faith (to the extent Bending Spoons desires to so negotiate) to make such adjustments to the terms and conditions of the merger agreement so that the Eventbrite Board’s failure to make an Eventbrite Board recommendation change in connection with such intervening event would no longer be reasonably likely to be inconsistent with the fiduciary duties of the Eventbrite Board pursuant to applicable law, as determined in good faith by the Eventbrite Board after consultation with Eventbrite’s outside legal counsel. |
• | with the prior written consent of Bending Spoons; |
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• | to allow reasonable additional time for the filing and mailing of any supplemental or amended disclosure, which the Eventbrite Board (after consultation with outside legal counsel) has determined in good faith is necessary or advisable, and for such supplemental or amended disclosure to be disseminated and reviewed by Eventbrite’s stockholders prior to the special meeting; |
• | if as of the time for which the special meeting is originally scheduled (as set forth in this proxy statement) or is scheduled to reconvene following an adjournment thereof, there are insufficient shares represented (either in person (including virtually) or by proxy) to constitute a quorum necessary to conduct the business of the special meeting or to the extent that at such time Eventbrite has not received proxies sufficient to allow the receipt of the requisite approval for the merger proposal at the special meeting; or |
• | to the extent required by applicable law. |
• | obtain any consents, approvals or waivers required to be obtained from third parties in connection with the transactions, including under any contract to which Eventbrite or Bending Spoons or any of their respective subsidiaries is a party or by which such person or any of their respective properties or assets may be bound; |
• | obtain all necessary actions or nonactions, waivers, approvals, orders and authorizations from governmental entities (including those in connection with applicable competition and investment screening laws), make all necessary registrations, declarations and filings with and take all steps as may be necessary to obtain an approval or waiver from, or to avoid any proceeding by, any governmental entity (including in connection with applicable competition and investment screening laws); and |
• | execute and deliver any additional instruments necessary to consummate the transactions contemplated by the merger agreement and fully carry out the purposes of the merger agreement. |
• | furnish to each other party such necessary information and reasonable assistance as such other party may reasonably request; |
• | where legally permissible, have the right to review in advance, and to the extent practicable each will consult with the other party in connection with all of the information relating to Eventbrite or Bending Spoons, as the case may be, and any of their respective subsidiaries, that appears in any filing made with, or written materials submitted to, any governmental entity in connection with any of the transactions contemplated by the merger agreement; |
• | where legally permissible, keep each other reasonably apprised of the status of matters relating to the completion of the transactions contemplated in the merger agreement, including by promptly furnishing each other with copies of notices or other written substantive communications received by Eventbrite or Bending Spoons, as the case may be, or any of their respective subsidiaries, from any governmental entity with respect to such transactions; and |
• | to the extent legally permissible and practicable under the circumstances, provide the other party and its counsel with the opportunity to participate in any meeting with any governmental entity in respect of any substantive filing, investigation or other inquiry in connection with the transactions contemplated by the merger agreement. |
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• | resisting, contesting or defending any proceeding (including administrative or judicial proceedings) by, before or involving any court of any governmental entity challenging the merger or the completion of the transactions contemplated in the merger agreement; |
• | proposing, negotiating, committing to and effecting, by consent decree, hold separate order or otherwise, the sale, divestiture, separation, licensing or disposition of any assets, properties or businesses of Eventbrite or Bending Spoons or any of their respective subsidiaries; and |
• | accepting any operational restrictions or otherwise taking or committing to take actions that may limit Bending Spoons’ or any of its subsidiaries’ freedom of action with respect to, or its ability to retain, any of the assets, properties, licenses, rights, product lines, operations or businesses of Bending Spoons or Eventbrite or any of their respective subsidiaries, in each case, as may be required in order to avoid the entry of, or to effect the lifting or dissolution of, any injunction, temporary restraining order, or other order in any suit or proceeding which would otherwise have the effect of preventing or materially delaying the closing, as applicable. |
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• | confidentiality of and access by Bending Spoons to certain information about Eventbrite; |
• | preparation by Eventbrite of this proxy statement; |
• | Eventbrite and Bending Spoons providing each other with certain notices; |
• | consultation between Eventbrite and Bending Spoons in connection with public statements with respect to the transactions contemplated by the merger agreement; |
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• | the treatment of equity awards of Eventbrite, which is described in the section entitled “Proposal 1: Adoption of the Merger Agreement - Terms of the Merger Agreement - Merger Consideration - Treatment of Equity Compensation” beginning on page 61; |
• | Eventbrite taking actions reasonably available to it to render takeover statutes inapplicable to the transactions contemplated by the merger agreement; |
• | Eventbrite and Bending Spoons taking steps reasonably necessary to cause the transactions contemplated by the merger agreement to be exempt under Section 16 of the Exchange Act; |
• | Eventbrite (i) providing prompt written notice (including copies of all pleadings) to Bending Spoons of, giving Bending Spoons the opportunity to participate reasonably in advance in, and consulting with Bending Spoons reasonably in advance regarding any strategies or significant decisions with respect to, the defense, settlement or resolution of, any proceeding, including stockholder litigation, and (ii) not settling, compromising or resolving (or offering to settle, compromise or resolve), or making any significant decision (including the filing of any “mooting disclosures”) in furtherance of the settlement, compromise or resolution of, any proceeding, including stockholder litigation, without Bending Spoons’ prior written consent (which shall not be unreasonably withheld, conditioned or delayed); |
• | Eventbrite cooperating with Bending Spoons and using its reasonable best efforts to cause Class A common stock to be delisted from NYSE as promptly as practicable after the effective time and deregistered pursuant to the Exchange Act as promptly as practicable after such delisting; |
• | To the extent requested in writing by Bending Spoons at least five (5) business days prior to the effective time, Eventbrite using its reasonable best efforts to deliver director resignations to Bending Spoons in forms reasonably acceptable to Bending Spoons, which resignations will be effective at the effective time; |
• | Eventbrite and Bending Spoons acknowledging and agreeing that the merger agreement is not intended to give Bending Spoons or Merger Sub, on the one hand, or Eventbrite, on the other hand, the right to control or direct the business of the other party at any time prior to the effective time; |
• | Eventbrite using commercially reasonable efforts to provide customary cooperation necessary for the arrangement of Bending Spoons’ debt financing in connection with the transactions, which cooperation shall be limited to the delivery of customary authorizations letters; |
• | Eventbrite using reasonable best efforts to deliver a payoff letter to Bending Spoons prior to the closing date for the payoff and termination of the certain credit agreement, dated as of August 6, 2025 (and any related guarantees and liens); and |
• | Eventbrite and its subsidiaries complying with all of their respective obligations under the convertible notes indentures and not amending, supplementing or modifying any of the terms of the convertible notes indentures without the prior written consent of Bending Spoons. |
(i) | receipt of Eventbrite stockholder approval of the merger proposal; |
(ii) | the consummation of the merger having not been restrained, enjoined or prohibited by any order (whether temporary, preliminary or permanent) of any court or other governmental entity of the U.S., and there not being in effect any law enacted, issued or promulgated by any governmental entity of the U.S. that prevents the consummation of the merger; and |
(iii) | any waiting period (or any extension thereof) under the HSR Act having expired or been terminated. |
• | the representations and warranties of Eventbrite relating to (i) organization, good standing and corporate power of Eventbrite and each of its subsidiaries, (ii) the authority to enter into the merger agreement, the |
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• | the representations and warranties of Eventbrite relating to capitalization matters, as specified in the merger agreement, being true and correct in all respects except for any de minimis inaccuracies as of the date of the merger agreement and at and as of the closing date as though made at and as of the closing date (except for such representations and warranties that relate to a specific date or time which need only be so true and correct as of such date or time); |
• | all other representations and warranties of Eventbrite set forth in the merger agreement, other than those referenced in the two (2) preceding bullet points above, being true and correct (without giving effect to any qualifications as to materiality or material adverse effect or other similar qualifications contained in the merger agreement) at and as of the date of the merger agreement and the closing date as though made at and as of the closing date (except for such representations and warranties that relate to a specific date or time which need only be so true and correct as of such date or time), except in the case of this bullet point where the failure to be so true and correct that has not had, and would not reasonably be expected to have, individually or in the aggregate, a material adverse effect; |
• | Eventbrite having performed or complied in all material respects with all obligations, covenants and agreements required to be performed or complied with by it under the merger agreement at or prior to the effective time; provided, that, no failure to timely deliver any notice under the notice covenant will, in and of itself, cause the failure of this condition to be satisfied; |
• | since the date of the merger agreement, no Eventbrite material adverse effect having occurred; and |
• | Eventbrite having delivered a certificate, dated as of the closing date, and signed by an executive officer of Eventbrite certifying that the conditions set forth in the five preceding bullet points have been satisfied. |
• | the representations and warranties of Bending Spoons and Merger Sub relating to (i) organization, good standing and corporate power of Bending Spoons, the authority to enter into the merger agreement, (ii) the execution, delivery or performance of the merger agreement and the consummation of the transactions contemplated thereby by Bending Spoons or Merger Sub will not conflict with or violate any provision of Bending Spoons’ or Merger Sub’s certificate of incorporation or bylaws (or equivalent organizational documents), (iii) financing, and (iv) broker’s fees being true and correct in all material respects as of the date of the merger agreement and at and as of the closing date as though made at and as of the closing date (except for representations and warranties that relate to a specific date or time which need only be so true and correct as of such date or time); |
• | the representations and warranties of Bending Spoons and Merger Sub relating to the ownership of Merger Sub being true and correct in all respects except for any de minimis inaccuracies as of the date of the merger agreement and at and as of the closing date as though made at and as of such date, except for representations and warranties that relate to a specific date or time (which need only be so true and correct as of such date or time); |
• | all other representations and warranties of Bending Spoons and Merger Sub set forth in the merger agreement, other than those referenced in the preceding bullet points above, being true and correct (without giving effect to any qualifications as to materiality or material adverse effect or other similar qualifications contained in the merger agreement) as of the date of the merger agreement and at and as of the closing date as though made at |
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• | Bending Spoons and Merger Sub having performed and complied in all material respects all obligations, covenants and agreements required to be performed or complied with by them under the merger agreement at or prior to the effective time; provided, that, no failure to timely deliver any notice under the notice covenant will, in and of itself, cause the failure of this condition to be satisfied; and |
• | Bending Spoons having delivered a certificate, dated as of the closing date, and signed by an executive officer of Bending Spoons certifying that the conditions set forth in the four (4) preceding bullet points have been satisfied. |
• | by the mutual written consent of Bending Spoons and Eventbrite; |
• | by either Eventbrite or Bending Spoons, if: |
(i) | the Eventbrite stockholder approval of the merger agreement has not been obtained upon a vote taken at the duly convened special meeting or any adjournment or postponement thereof; |
(ii) | any court of competent jurisdiction or other governmental entity of competent jurisdiction has enacted, issued or promulgated any law or order or taken any other action, in each case, permanently restraining, enjoining or otherwise prohibiting, prior to the effective time, the consummation of the merger, and such law, order or other action has become final and non-appealable; provided, that, the right to terminate the merger agreement pursuant to this bullet point will not be available to a party (and in the case of Bending Spoons, including Merger Sub) whose action or failure to perform or comply with any provision of the merger agreement was a primary cause of such law or order to be enacted, issued or promulgated or the failure to remove such law or order; or |
(iii) | the effective time has not occurred on or before 11:59 p.m., Pacific Time, on June 1, 2026 (which we refer to as the initial outside date); provided, that, in the event that at the initial outside date, all of the conditions in the merger agreement other than certain regulatory conditions, as specified in the merger agreement, have been satisfied (other than conditions that by their nature are to be satisfied at the closing and which conditions are capable of being satisfied at such time), or have been waived by Bending Spoons and Merger Sub or Eventbrite, as applicable, then the outside date will automatically be extended to 11:59 p.m., Pacific Time, on September 1, 2026 (which we refer to as the extended outside date), unless Bending Spoons and Eventbrite mutually agree in writing to an earlier extended outside date. |
• | by Bending Spoons: |
(iv) | at any time prior to receipt of the Eventbrite stockholder approval of the merger agreement if (i) the Eventbrite Board effects an Eventbrite Board recommendation change or (ii) Eventbrite willfully and materially breaches its “no shop” covenant; or |
(v) | if (i) Eventbrite has breached any of its representations, warranties or covenants contained in the merger agreement, in each case, such that any condition to the obligations of Bending Spoons and Merger Sub contained in the merger agreement is not capable of being satisfied while such breach is continuing, (ii) Bending Spoons delivered to Eventbrite written notice of such breach, and (iii) such breach is not capable of cure in a manner sufficient to allow satisfaction of the conditions to the obligations of Bending Spoons and Merger Sub prior to the applicable outside date or, if capable of cure, has not been cured by the earlier of the date that is thirty (30) days following the date of delivery of such written notice to Eventbrite or the outside date; provided, however, that, Bending Spoons may not terminate the merger agreement pursuant to this provision if Bending Spoons or Merger Sub is then in breach of any of its |
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• | by Eventbrite: |
(vi) | at any time prior to receipt of the Eventbrite stockholder approval of the merger agreement, if (i) Eventbrite received a superior proposal after the date of the merger agreement, (ii) the Eventbrite Board authorized Eventbrite to enter into a definitive agreement to consummate the transactions contemplated by such superior proposal following the procedures described in the section entitled “Proposal 1: Adoption of the Merger Agreement - Terms of the Merger Agreement - Additional Agreements - Change of Recommendation” beginning on page 70, (iii) Eventbrite complied in all material respects with the applicable terms and conditions set forth in the merger agreement (including, without limitation, those described in the sections entitled “Proposal 1: Adoption of the Merger Agreement - Terms of the Merger Agreement - Additional Agreements - No Solicitation” and “Proposal 1: Adoption of the Merger Agreement - Terms of the Merger Agreement - Additional Agreements - Change of Recommendation” beginning on pages 68 and 70, respectively) with respect to such superior proposal and (iv) substantially concurrently with (and as a condition to) such termination Eventbrite has paid (or has caused to be paid to) Bending Spoons the termination fee (we refer to this termination right as the Eventbrite superior proposal termination right); or |
(vii) | if (i) Bending Spoons or Merger Sub has breached any of its representations, warranties or covenants contained in the merger agreement, in each case, such that any condition to the obligations of Eventbrite contained in the merger agreement is not capable of being satisfied while such breach is continuing, (ii) Eventbrite delivered to Bending Spoons written notice of such breach, and (iii) such breach is not capable of cure in a manner sufficient to allow satisfaction of the conditions to the obligations of Eventbrite prior to the applicable outside date or, if capable of cure, has not been cured by the earlier of the date that is thirty (30) days following the date of delivery of such written notice to Bending Spoons or the outside date; provided, however, that, Eventbrite may not terminate the merger agreement pursuant to this provision if Eventbrite is then in breach of any of its representations, warranties or covenants contained in the merger agreement, and such breach would result in the failure of one or more of certain conditions to the obligations of Bending Spoons and Merger Sub to be satisfied. |
• | no termination will affect Eventbrite and its representatives’ right to not prepare any reports, analyses, appraisals or opinions; |
• | no termination will affect the public announcements covenant between the parties; |
• | certain other provisions of the merger agreement, including provisions with respect to the allocation of fees and expenses, including, if applicable, the termination fees described in the section entitled “Proposal 1: Adoption of the Merger Agreement - Terms of the Merger Agreement - Termination of the Merger Agreement - Termination Fees” beginning on page 80, will survive such termination; and |
• | no termination will relieve any party from liability or damages incurred or suffered as a result of a willful and material breach (as described below) of any of its respective representations, warranties, covenants or other agreements set forth in the merger agreement prior to such termination, and the aggrieved party will be entitled to all remedies available at law or in equity. |
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• | in the event the merger agreement is terminated by Bending Spoons due to Eventbrite effecting an Eventbrite Board recommendation change or a willful and material breach by Eventbrite, then the termination fee will be paid within eight (8) business days of such termination; |
• | if (a) the merger agreement is terminated by (i) either Eventbrite or Bending Spoons if the requisite stockholder approval for the merger agreement proposal is not obtained at the special meeting, (ii) either Eventbrite or Bending Spoons if the merger has not been consummated on or before the outside date (as may be extended) or (iii) Bending Spoons, at any time prior to the effective time, if Eventbrite has breached any of its representation, warranty or covenant, such that the conditions relating to the accuracy of Eventbrite’s representations and warranties or performance of covenants would fail to be satisfied and such breach is not capable of cure in a manner sufficient to allow satisfaction of such conditions after written notice to Eventbrite or is capable of cure but not cured by the earlier of (x) the date that is thirty (30) days following delivery of written notice to Eventbrite or (y) the outside date (as may be extended), (b) an acquisition proposal has been publicly announced and not withdrawn prior to, in the case of termination due to clause (i) above, the date of the special meeting or, in the case of termination due to clauses (ii) or (iii) above, prior to the date of termination and (c) within twelve (12) months of the termination of the merger agreement, Eventbrite enters into a definitive agreement with respect to an acquisition proposal or an acquisition transaction is consummated, then, in each case, the termination fee will be paid within eight (8) business days after the earlier of the entry into such definitive agreement with respect to an acquisition proposal or the consummation of such acquisition transaction; or |
• | in the event the merger agreement is terminated by Eventbrite pursuant to the Eventbrite superior proposal termination right, then the termination fee will be paid substantially concurrently with such termination. |
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• | extend the time for the performance of any of the obligations or other acts of the other; |
• | waive any breach of the representations and warranties of the other contained in the merger agreement or document delivered in connection with the merger; or |
• | waive compliance by the other with any of the agreements or covenants contained in the merger agreement. |
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• | any acquisition proposal or merger, consolidation or business combination involving Eventbrite or any of its subsidiaries, other than the transactions contemplated by the merger agreement; |
• | any sale, lease or transfer of all or substantially all of the assets of Eventbrite or any of its subsidiaries; |
• | any recapitalization, dissolution, liquidation or winding up of Eventbrite or any of its subsidiaries; or |
• | any other action or series of actions that, individually or in the aggregate, could reasonably be expected to (i) result in a material breach of any of the representations, warranties, covenants or agreements set forth in the voting and support agreement, (ii) result in any of the conditions to the consummation of the merger set forth in the merger agreement not being fulfilled or satisfied in accordance with the terms thereof, or (iii) otherwise prevent, materially delay, impair or materially and adversely affect the consummation of the transactions in accordance with the terms of the merger agreement. |
• | solicit, initiate, propose, induce, knowingly encourage or facilitate the making or submission of any acquisition proposal (it being understood and agreed that ministerial acts that are not otherwise prohibited by the terms of the voting and support agreement shall not be deemed to facilitate for purposes of, or otherwise constitute a violation of, the voting and support agreement); |
• | furnish to any person (other than to Bending Spoons, Merger Sub or their respective representatives) any non-public information relating to Eventbrite or any of its subsidiaries or afford to any person (other than Bending Spoons or Merger Sub and their respective representatives) access to the business, properties, assets, books, records or other non-public information, or to any personnel, of Eventbrite or any of its subsidiaries, in any such case that relates to or could reasonably be expected to lead to an acquisition proposal; |
• | enter into, continue or otherwise participate in or engage in any discussions or negotiations with any person that relates to or could reasonably be expected to lead to an acquisition proposal (including any provision of non-public information regarding Eventbrite or any of its subsidiaries); |
• | approve, endorse or recommend any acquisition proposal; or |
• | enter into any letter of intent, memorandum of understanding, merger agreement, acquisition agreement or other contract relating to an acquisition transaction. |
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High | Low | |||||
FY 2025 - Quarter Ended | ||||||
December 31 (as of December 15, 2025) | $4.44 | $2.13 | ||||
September 30 | $3.20 | $2.21 | ||||
June 30 | $2.80 | $1.81 | ||||
March 31 | $3.74 | $2.07 | ||||
FY 2024 - Quarter Ended | ||||||
December 31 | $4.12 | $2.59 | ||||
September 30 | $5.92 | $2.51 | ||||
June 30 | $5.98 | $4.58 | ||||
March 31 | $9.20 | $5.05 | ||||
FY 2023 - Quarter Ended | ||||||
December 31 | $9.88 | $6.67 | ||||
September 30 | $11.91 | $8.81 | ||||
June 30 | $9.74 | $6.21 | ||||
March 31 | $10.15 | $5.72 | ||||
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Class A Common Stock | Class B Common Stock | Percent of Vote | Percent of Total Ownership | |||||||||||||||
Name and Address of Beneficial Owner | Number of Shares Owned | % of Class Owned | Number of Shares Owned | % of Class Owned | (All Classes) | (All Classes) | ||||||||||||
Kevin Hartz(1) | 3,306,446 | 3.9% | 14,241,829 | 71.0% | 50.9% | 16.6% | ||||||||||||
Edmond De Rothschild Asset Management (France) and affiliated entities(2) | 7,083,879 | 8.6% | — | — | 3.0% | 7.2% | ||||||||||||
Nantahala Capital Management, LLC and affiliated persons(3) | 6,831,395 | 8.3% | — | — | 2.9% | 7.0% | ||||||||||||
Entities and persons affiliated with Sequoia Capital(4) | 1,790,903 | 2.2% | 4,935,305 | 31.6% | 21.4% | 6.9% | ||||||||||||
Entities and persons affiliated with BlackRock, Inc.(5) | 5,699,003 | 6.9% | — | — | 2.4% | 5.8% | ||||||||||||
The Vanguard Group(6) | 4,846,420 | 5.9% | — | — | 2.0% | 4.9% | ||||||||||||
Julia D Hartz(1) | 3,306,446 | 3.9% | 14,241,829 | 71.0% | 50.9% | 16.6% | ||||||||||||
Ted Dworkin(7) | 606,451 | * | — | — | * | * | ||||||||||||
Anand Kumar Gandhi(8) | 195,567 | * | — | — | * | * | ||||||||||||
Pilar Manchón(8) | 27,961 | * | — | — | * | * | ||||||||||||
Naomi Wheeless(9) | 110,814 | * | — | — | * | * | ||||||||||||
Jane Lauder(10) | 95,554 | * | — | — | * | * | ||||||||||||
Vivek Sagi | — | * | — | — | — | — | ||||||||||||
Katherine August-deWilde(11) | 292,404 | * | — | — | * | * | ||||||||||||
Lisa Gorman(12) | 164,794 | * | 2,084 | * | * | * | ||||||||||||
Sean Moriarty(13) | 124,683 | * | 50,000 | * | * | * | ||||||||||||
Helen Riley(14) | 111,519 | * | 264,319 | 1.7% | 1.1% | * | ||||||||||||
April Underwood(15) | 8,295 | * | — | — | * | * | ||||||||||||
All current executive officers and directors as a group (12 persons) | 5,044,488 | 5.9% | 14,558,232 | 71.4% | 52.0% | 18.5% | ||||||||||||
* | The percentage of shares beneficially owned does not exceed 1% of the class. |
(1) | Consists of (i) 4,273,601 shares of Class B common stock held by The Hartz Family Revocable Trust Dtd 12/4/08, (ii) 2,627,266 shares of Class B common stock held by The Hartz 2008 Irrevocable Trust, dated September 15, 2008; and, as to each of which Ms. Hartz and Mr. Hartz are co-trustees, and share voting and dispositive power, (iii) 1,250,000 shares of Class B common stock held of record by Ms. Hartz, (iv) 1,661,026 shares of Class B common stock held of record by Mr. Hartz, (v) 4,429,936 shares of Class B common stock subject to outstanding options that are exercisable within 60 days of December 15, 2025 held by Ms. Hartz, (vi) 1,228 shares of Class A common stock |
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(2) | Based upon information regarding Eventbrite holdings reported by way of Schedule 13G filed with the SEC on November 14, 2024, represents 7,083,879 shares of Class A common stock beneficially owned by Edmond de Rothschild Asset Management (France) and its affiliates. These filing persons reported that (i) Edmond de Rothschild Asset Management (France) (which we refer to as EDRAM France) had shared voting and dispositive power with respect to 6,561,439 shares of Class A common stock and sole dispositive power with respect to 522,440 shares of Class A common stock, (ii) Edmond de Rothschild Asset Management (Luxembourg) (which we refer to as EDRAM Luxembourg) had shared voting and dispositive power with respect to 4,835,339 shares of Class A common stock, and (iii) Edmond de Rothschild Fund (which we refer to as EdR Fund) had shared voting and dispositive power with respect to 4,769,300 shares of Class A common stock. The principal business address of EDRAM France is 47, Rue Du Faubourg Saint Honore Paris, France 75008. The principal business address of EDRAM Luxembourg is 4, Rue Robert Stumper, Luxembourg L-2557. The principal business address of EdR Fund is 4, Rue Robert Stumper, Luxembourg L-2557. |
(3) | Based upon information regarding Eventbrite holdings reported by way of Amendment No. 1 to Schedule 13G filed by Nantahala Capital Management, LLC (which we refer to as Nantahala) Wilmot B. Harkey, and Daniel Mack, with the SEC on November 14, 2025. Nantahala beneficially owns the Eventbrite holdings disclosed in the table above in its capacity as an investment adviser. As the managing members of Nantahala, each of Messrs. Harkey and Mack may be deemed to be a beneficial owner of those shares of Class A common stock. Each of these filing persons reported that it or he has shared voting and dispositive power with respect to 6,831,395 shares of Class A common stock. The principal business address of each of them is 130 Main Street, 2nd Floor, New Canaan, Connecticut 06840. |
(4) | Based upon information regarding Eventbrite holdings reported by way of Amendment No. 3 to Schedule 13G filed with the SEC on February 14, 2024, consists of (i) 3,755,613 shares of Class B common stock held by Sequoia Capital U.S. Venture 2010 Fund, L.P. (SC USV 2010), (ii) 589,268 shares of Class B common stock held by Sequoia Capital U.S. Venture 2010 Partners Fund (Q), L.P. (SC USV 2010 PFQ), (iii) 118,972 shares of Class B common stock held by Sequoia Capital U.S. Venture 2010 Partners Fund, L.P. (SC USV 2010 PF), (iv) 431,359 shares of Class B common stock held by Sequoia Capital U.S. Growth Fund VII, L.P. (SC USGF VII), and (v) 40,093 shares of Class B common stock held by Sequoia Capital U.S. Growth VII Principals Fund, L.P. (SC USGF VII PF)SC U.S. Venture 2010 Management, L.P. (SC USV 2010 MGMT) is the general partner of each of SC USV 2010, SC USV 2010 PFQ and SC USV 2010 PF. As a result, SC USV 2010 MGMT may be deemed to share voting and dispositive power with SC USV 2010, SC USV 2010 PFQ and SC USV 2010 PF. SC U.S. Growth VII Management, L.P. (SC USG VII MGMT) is the general partner of SC USGF VII and SC USGF VII PF. As a result, SC USG VII MGMT may be deemed to share voting and dispositive power with SC USGF VII and SC USGF VII PF. SC US (TTGP), LTD (SC US TTGP) is the general partner of each of SC USV 2010 MGMT and SC USG VII MGMT. As a result, SC US (TTGP) may be deemed to share voting and dispositive power with respect to the shares held by the SC USV 2010 MGMT and SC USG VII MGMT. Also consists of (i) 1,787,793 shares of Class A common stock held by Sequoia Grove II LLC, and (ii) 3,110 shares of Class A common stock held by Sequoia Grove UK LP. The principal business address of each of these entities is 2800 Sand Hill Road, Suite 101, Menlo Park, California 94025. |
(5) | Based upon information regarding Eventbrite holdings reported by way of Schedule 13G filed by BlackRock, Inc., which we refer to as BlackRock, with the SEC on October 17, 2025. BlackRock has sole voting power over 5,560,959 shares of Class A common stock and sole dispositive power over 5,699,003 shares of Class A common stock listed in the table above. The principal business address for BlackRock, Inc. is 55 East 52nd Street, New York, NY 10055. |
(6) | Based upon information regarding Eventbrite holdings reported by way of Amendment No. 9 to Schedule 13G filed with the SEC on November 12, 2024, represents 4,846,420 shares of Class A common stock beneficially owned by The Vanguard Group and its subsidiaries. The Vanguard Group reported that it has shared voting power over 137,242 shares of Class A common stock, sole dispositive power over 4,631,505 shares of Class A common stock and shared dispositive power over 214,915 shares of Class A common stock. The principal business address for The Vanguard Group is 100 Vanguard Blvd., Malvern, PA 19355. |
(7) | Consists of (i) 335,057 shares of Class A common stock directly held, (ii) 178,231 shares of Class A common stock subject to options that are exercisable within 60 days of December 15, 2025, (iii) 31,587 shares of Class A common stock underlying unvested RSUs that will vest within 60 days of December 15, 2025, and (iv) 61,576 shares of Class A common stock underlying unvested PSU that will vest within 60 days of December 15, 2025. |
(8) | Consists of shares of Class A common stock held directly by the respective beneficial owner. |
(9) | Consists of (i) 89,888 shares of Class A common stock directly held and (ii) 20,926 shares of Class A common stock subject to outstanding options that are exercisable within 60 days of December 15, 2025. |
(10) | Consists of (i) 51,088 shares of Class A common stock directly held and (ii) 44,466 shares of Class A common stock subject to outstanding options that are exercisable within 60 days of December 15, 2025. |
(11) | Consists of (i) 255,934 shares of Class A common stock held by deWilde Family Trust Dtd 6/21/90, of which Ms. August-deWilde is a trustee, and (ii) 36,470 shares of Class A common stock subject to outstanding options that are exercisable within 60 days of December 15, 2025. |
(12) | Consists of (i) 163,210 shares of Class A common stock directly held, (ii) 2,084 shares of Eventbrite Class B common stock subject to outstanding options that are exercisable within 60 days of December 15, 2025, and (iii) 1,584 shares of Class A common stock underlying unvested RSUs that will vest within 60 days of December 15, 2025. |
(13) | Consists of (i) 77,489 shares of Class A common stock directly held, (ii) 47,194 shares of Class A common stock subject to options that are exercisable within 60 days of December 15, 2025, and (iii) 50,000 shares of Class B common stock subject to options that are exercisable within 60 days of December 15, 2025. |
(14) | Consists of (i) 64,325 shares of Class A common stock directly held, (ii) 47,194 shares of Class A common stock subject to options that are exercisable within 60 days of December 15, 2025, and (iii) 264,319 shares of Class B common stock subject to options that are exercisable within 60 days of December 15, 2025. |
(15) | Consists of (i) 1,443 shares of Class A common stock directly held and (ii) 6,852 shares of Class A common stock subject to options that are exercisable within 60 days of December 15, 2025. |
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• | not earlier than February 5, 2026; and |
• | not later than March 7, 2026. |
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• | Eventbrite’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 27, 2025; |
• | Eventbrite’s Quarterly Reports on Form 10-Q for the fiscal quarter ended September 30, 2025, filed with the SEC on November 6, 2025, for the fiscal quarter ended June 30, 2025, filed with the SEC on August 7, 2025, and for the fiscal quarter ended March 31, 2025, filed with the SEC on May 8, 2025; |
• | Eventbrite’s Definitive Proxy Statement for the 2025 Annual Meeting of Shareholders on Schedule 14A, as supplemented, filed with the SEC on April 24, 2025; and |
• | Eventbrite’s Current Reports on Form 8-K filed with the SEC on December 19, 2025, December 3, 2025, December 2, 2025, August 7, 2025, June 11, 2025, June 3, 2025, May 7, 2025, and April 10, 2025, respectively (other than the portions of such documents not deemed to be filed). |
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ARTICLE 1 THE MERGER | A-1 | ||||||||
1.1 | The Merger | A-1 | |||||||
1.2 | Closing and Effective Time of the Merger | A-2 | |||||||
ARTICLE 2 CONVERSION OF SECURITIES IN THE MERGER | A-3 | ||||||||
2.1 | Conversion of Securities | A-3 | |||||||
2.2 | Payment for Securities; Surrender of Certificates | A-3 | |||||||
2.3 | Dissenting Shares | A-4 | |||||||
2.4 | Treatment of Company Equity Awards | A-5 | |||||||
2.5 | Withholding Rights | A-6 | |||||||
2.6 | Adjustments | A-6 | |||||||
ARTICLE 3 REPRESENTATIONS AND WARRANTIES OF THE COMPANY | A-7 | ||||||||
3.1 | Corporate Organization | A-7 | |||||||
3.2 | Capitalization | A-7 | |||||||
3.3 | Authority; Execution and Delivery; Enforceability | A-8 | |||||||
3.4 | No Conflicts | A-9 | |||||||
3.5 | SEC Documents; Financial Statements; Undisclosed Liabilities | A-9 | |||||||
3.6 | Absence of Certain Changes or Events | A-10 | |||||||
3.7 | Proxy Statement | A-11 | |||||||
3.8 | Legal Proceedings | A-11 | |||||||
3.9 | Compliance with Laws and Orders | A-11 | |||||||
3.10 | Permits | A-12 | |||||||
3.11 | Employee Benefit Plans | A-12 | |||||||
3.12 | Employee and Labor Matters | A-14 | |||||||
3.13 | Environmental Matters | A-14 | |||||||
3.14 | Real Property; Title to Assets | A-15 | |||||||
3.15 | Tax Matters | A-15 | |||||||
3.16 | Material Contracts | A-16 | |||||||
3.17 | Intellectual Property; Data Privacy and Security | A-18 | |||||||
3.18 | Insurance | A-20 | |||||||
3.19 | Broker’s Fees | A-20 | |||||||
3.20 | Opinion of the Company’s Financial Advisor | A-20 | |||||||
3.21 | Top Customers and Top Vendors | A-21 | |||||||
3.22 | No Other Representations or Warranties | A-21 | |||||||
ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUB | A-21 | ||||||||
4.1 | Corporate Organization | A-21 | |||||||
4.2 | Authority, Execution and Delivery; Enforceability | A-21 | |||||||
4.3 | No Conflicts | A-22 | |||||||
4.4 | Litigation | A-22 | |||||||
4.5 | Financing | A-22 | |||||||
4.6 | Proxy Statement | A-22 | |||||||
4.7 | Ownership of Company Capital Stock | A-22 | |||||||
4.8 | Ownership of Merger Sub | A-23 | |||||||
4.9 | Brokers | A-23 | |||||||
4.10 | No Other Representations and Warranties | A-23 | |||||||
ARTICLE 5 COVENANTS | A-23 | ||||||||
5.1 | Conduct of Business by the Company Pending the Closing | A-23 | |||||||
5.2 | Access to Information; Confidentiality | A-26 | |||||||
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5.3 | Treatment of Acquisition Proposals | A-26 | |||||||
5.4 | SEC Filings; Other Actions | A-29 | |||||||
5.5 | Appropriate Action; Consents; Filings | A-30 | |||||||
5.6 | Certain Notices | A-31 | |||||||
5.7 | Public Announcements | A-32 | |||||||
5.8 | Employee Benefit Matters | A-32 | |||||||
5.9 | Indemnification and Insurance | A-34 | |||||||
5.10 | Takeover Statutes | A-35 | |||||||
5.11 | Section 16 Matters | A-35 | |||||||
5.12 | Transaction Litigation | A-35 | |||||||
5.13 | Stock Exchange Delisting | A-36 | |||||||
5.14 | Director Resignations | A-36 | |||||||
5.15 | No Control of the Other Party’s Business | A-36 | |||||||
5.16 | Company Credit Agreement; Convertible Notes | A-36 | |||||||
5.17 | Financing Cooperation | A-36 | |||||||
ARTICLE 6 CONDITIONS TO CONSUMMATION OF THE MERGER | A-37 | ||||||||
6.1 | Conditions to Obligations of Each Party | A-37 | |||||||
6.2 | Conditions to Obligations of the Company | A-37 | |||||||
6.3 | Conditions to Obligations of Parent and Merger Sub | A-38 | |||||||
ARTICLE 7 TERMINATION, AMENDMENT AND WAIVER | A-38 | ||||||||
7.1 | Termination | A-38 | |||||||
7.2 | Effect of Termination | A-40 | |||||||
7.3 | Company Termination Fee | A-40 | |||||||
7.4 | Amendment | A-41 | |||||||
7.5 | Waiver | A-41 | |||||||
ARTICLE 8 GENERAL PROVISIONS | A-41 | ||||||||
8.1 | Non-Survival of Representations and Warranties | A-41 | |||||||
8.2 | Fees and Expenses | A-41 | |||||||
8.3 | Notices | A-41 | |||||||
8.4 | Headings | A-42 | |||||||
8.5 | Severability | A-42 | |||||||
8.6 | Entire Agreement | A-42 | |||||||
8.7 | Assignment | A-43 | |||||||
8.8 | No Third-Party Beneficiaries | A-43 | |||||||
8.9 | Mutual Drafting; Interpretation | A-43 | |||||||
8.10 | Governing Law; Consent to Jurisdiction; Waiver of Trial by Jury | A-44 | |||||||
8.11 | Counterparts | A-44 | |||||||
8.12 | Specific Performance | A-45 | |||||||
Exhibits | ||||||
Exhibit A | Certain Definitions | A-48 | ||||
Exhibit B | Form of Voting and Support Agreement | A-55 | ||||
Schedules | ||||||
Schedule I | Certain Company Stockholders | |||||
Schedule II | Knowledge | |||||
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If to Parent, Merger Sub or, after the Effective Time, the Surviving Corporation, addressed to it at: | |||||||||
c/o Bending Spoons S.p.A. | |||||||||
Via Nino Bonnet 10 | |||||||||
Milan, MI 20154 | |||||||||
Italy | |||||||||
Attention: | Legal | ||||||||
Email: | ****; **** | ||||||||
with a copy to (for information purposes only): | |||||||||
Simpson Thacher & Bartlett LLP | |||||||||
425 Lexington Avenue | |||||||||
New York, NY 10017 | |||||||||
Attention: | Eric M. Swedenburg; Anthony F. Vernace; Matthew A. Fisher | ||||||||
Email: | eswedenburg@stblaw.com; avernace@stblaw.com | ||||||||
matthew.fisher@stblaw.com | |||||||||
If to the Company, addressed to it at:. | |||||||||
Eventbrite, Inc | |||||||||
95 Third Street, 2nd Floor | |||||||||
San Francisco, CA 94103 | |||||||||
Attention: | Legal | ||||||||
Email: | **** | ||||||||
with a copy to (for information purposes only): | |||||||||
Skadden, Arps, Slate, Meagher & Flom LLP | |||||||||
525 University Avenue | |||||||||
Palo Alto, California 94301 | |||||||||
Attention: | Kenton King and Sonia K. Nijjar | ||||||||
Email: | Kenton.King@skadden.com; Sonia.Nijjar@skadden.com | ||||||||
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Parent: | |||||||||
BENDING SPOONS US INC. | |||||||||
By: | /s/ Mattie Maharaj | ||||||||
Name: | Mattie Maharaj | ||||||||
Title: | Authorized Signatory | ||||||||
Merger Sub: | |||||||||
EVEREST MERGER SUB INC. | |||||||||
By: | /s/ Francesco Patarnello | ||||||||
Name: | Francesco Patarnello | ||||||||
Title: | President, Chief Executive Officer, and Secretary | ||||||||
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Company: | |||||||||
EVENTBRITE, INC. | |||||||||
By: | /s/ Julia Hartz | ||||||||
Name: | Julia Hartz | ||||||||
Title: | Chief Executive Officer | ||||||||
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PARENT: | ||||||
By: | /s/ Mattie Maharaj | |||||
Name: | Mattie Maharaj | |||||
Title: | Authorized Signatory | |||||
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STOCKHOLDER: JULIA HARTZ | ||||||
/s/ Julia Hartz | ||||||
Address: c/o Eventbrite, Inc. 95 Third Street, 2nd Floor San Francisco, CA 94103 | ||||||
Email Address: **** | ||||||
Shares Beneficially Owned by Stockholder: | ||||||
425,981 | shares of Class A Common Stock | |||||
1,250,000 | shares of Class B Common Stock | |||||
2,661,612 | Company Options to acquire shares of Class A Common Stock | |||||
4,429,936 | Company Options to acquire shares of Class B Common Stock | |||||
1,150,235 | Company RSUs to acquire shares of Class A Common Stock | |||||
1,632,688 | Company PSUs to acquire shares of Class A Common Stock | |||||
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STOCKHOLDER: KEVIN HARTZ | ||||||
/s/ Kevin Hartz | ||||||
Address: c/o Eventbrite, Inc. 95 Third Street, 2nd Floor San Francisco, CA 94103 | ||||||
Email Address: **** | ||||||
Shares Beneficially Owned by Stockholder: | ||||||
74,341 | shares of Class A Common Stock | |||||
1,661,026 | shares of Class B Common Stock | |||||
47,194 | Company Options to acquire shares of Class A Common Stock | |||||
Company Options to acquire shares of Class B Common Stock | ||||||
Company RSUs to acquire shares of Class A Common Stock | ||||||
Company PSUs to acquire shares of Class A Common Stock | ||||||
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STOCKHOLDER: KEVIN EARNEST HARTZ & JULIA D. HARTZ TTEES THE HARTZ FAMILY REVOCABLE TRUST DTD 12/4/2008 | ||||||
/s/ Julia Hartz | ||||||
By: Julia Hartz | ||||||
Title: Trustee | ||||||
Address: c/o Eventbrite, Inc. 95 Third Street, 2nd Floor San Francisco, CA 94103 | ||||||
Email Address: **** | ||||||
Shares Beneficially Owned by Stockholder: | ||||||
3,070 | shares of Class A Common Stock | |||||
4,273,601 | shares of Class B Common Stock | |||||
Company Options to acquire shares of Class A Common Stock | ||||||
Company Options to acquire shares of Class B Common Stock | ||||||
Company RSUs to acquire shares of Class A Common Stock | ||||||
Company PSUs to acquire shares of Class A Common Stock | ||||||
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STOCKHOLDER: HARTZ 2008 IRREVOCABLE TRUST DATED SEPTEMBER 15 2008 | ||||||
/s/ Divesh Makan | ||||||
By: Divesh Makan | ||||||
Title: Trustee | ||||||
Address: C/O ICONIQ Capital 50 Beale Street, Suite 2300 San Francisco, CA 94105 | ||||||
Email Address: **** | ||||||
Shares Beneficially Owned by Stockholder: | ||||||
shares of Class A Common Stock | ||||||
2,627,266 | shares of Class B Common Stock | |||||
Company Options to acquire shares of Class A Common Stock | ||||||
Company Options to acquire shares of Class B Common Stock | ||||||
Company RSUs to acquire shares of Class A Common Stock | ||||||
Company PSUs to acquire shares of Class A Common Stock | ||||||
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(i) | reviewed the financial terms of an execution version, provided to us on December 1, 2025, of the Agreement; |
(ii) | reviewed certain publicly available historical business and financial information relating to Eventbrite, including public filings of Eventbrite, and historical market prices for Class A Common Stock; |
(iii) | reviewed certain financial information relating to Eventbrite, including certain internal financial forecasts, estimates and other financial and operating data relating to Eventbrite, provided to or discussed with us by the management of Eventbrite; |
(iv) | held discussions with the management of Eventbrite relating to the operations, financial condition and prospects of Eventbrite; |
(v) | reviewed and analyzed certain publicly available information, including certain stock market data and financial information, relating to Eventbrite and selected companies with businesses that we deemed generally relevant in evaluating Eventbrite; |
(vi) | reviewed and analyzed certain publicly available financial information relating to selected transactions that we deemed generally relevant in evaluating the Merger; and |
(vii) | conducted such other financial analyses and investigations as we deemed necessary or appropriate for purposes of the opinion expressed herein. |
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Very truly yours, | |||
ALLEN & COMPANY LLC | |||
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FAQ
What is Eventbrite (EB) proposing in this merger with Bending Spoons?
Eventbrite is asking stockholders to adopt an Agreement and Plan of Merger under which Everest Merger Sub Inc., a subsidiary of Bending Spoons US Inc., will merge into Eventbrite. After the merger, Eventbrite will survive as a wholly owned subsidiary of Bending Spoons and will no longer be publicly traded.
How much will Eventbrite (EB) stockholders receive per share if the merger closes?
At the effective time, each outstanding share of Eventbrite Class A and Class B common stock (other than specified excluded or dissenting shares) will be converted into the right to receive $4.50 in cash per share, without interest and subject to applicable tax withholding.
What premium does the $4.50 offer represent for Eventbrite (EB) stockholders?
The proxy states that
What will happen to Eventbrite (EB) shares and NYSE listing after the merger?
After closing, all Eventbrite shares subject to the merger will be canceled and will only represent the right to receive the cash merger consideration. Eventbrite expects to delist its Class A common stock from the NYSE and deregister it under the Exchange Act, so it will no longer be a public company.
Who is recommending the merger and has any fairness opinion been provided?
The Eventbrite Board of Directors, after considering the unanimous recommendation of a Special Committee, unanimously determined that the merger is fair and in the best interests of stockholders and recommends voting “FOR” all proposals. Allen & Company LLC delivered a written opinion on
Do Eventbrite (EB) stockholders have appraisal rights in this merger?
Yes. Stockholders and certain beneficial owners who do not vote in favor of the merger proposal and who strictly comply with Section 262 of the Delaware General Corporation Law may seek appraisal. They would then receive a cash amount equal to the court‑determined “fair value” of their shares, which could be more, the same, or less than
Is the Eventbrite (EB) merger subject to financing or regulatory conditions?
The merger is not conditioned on Bending Spoons obtaining financing; it has represented that it will have sufficient cash and cash equivalents, including from existing credit facilities, to close. Completion still requires regulatory approvals, including under the HSR Act and other competition and investment screening laws, and satisfaction of other closing conditions described in the proxy.