US ticketing and event management company Eventbrite has revealed the terms of its $200m Initial Public Offering (IPO).

The firm expects its 10 million shares to cost between $19 and $21 when it goes public on the New York Stock Exchange later this year.

Eventbrite’s move to launch in IPO will be used as a means to repay debt and raise working capital. The SEC filing gave an initial placeholder amount for the offering of $200m (£155.9m/€172.9m).

The filing illustrated that Eventbrite’s revenue for the first six months of 2018 increased to $142.1m from $88.2m for the equivalent period in 2017. However, the company’s net loss rose to $15.6m in the first half from $8.3m.

Eventbrite shares are expected to trade under the symbol EB with the offering to be led by underwriters including Goldman Sachs, JPMorgan Chase and Allen & Co.

Last month, Eventbrite announced its ‘Essentials’ package customers will see payment processing fees drop from three per cent to 2.5 per cent, while fees for tickets will fall from $0.99 (£0.77/€0.85) to $0.70. However, it is also increasing its service fee charge per ticket from one per cent to two per cent, while also removing a service fee cap of $19.99.

Image: Eventbrite