StubHub had a disappointing stock-market debut: The company, which operates the leading secondary-ticketing marketplace for live events, saw its shares close 6.4% below the IPO price Wednesday.

Shares began trading on the New York Stock Exchange on Sept. 17 under the ticker symbol “STUB” just past noon ET. The stock’s IPO price was $23.50/share. It climbed as high as $27.89/share (+19%) in early trading but slumped to close at $22.00/share at the end of the regular session, giving it a market capitalization of roughly $7.55 billion.

StubHub raised about $800 million from the IPO, which it has said it will use in part to pay down debt. As of June 30, the company had $2.38 billion in long-term debt obligations, according to its amended SEC registration statement .

Following the IPO, St

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