Fiserv Reports Pricing of Secondary Offering of 5 Million Common Shares

Strategic Insights -

Fiserv, a global provider of financial services technology, has announced the pricing of a secondary offering of 5 million common shares by New Omaha Holdings LP, a company owned by investment funds managed by Kohlberg Kravis Roberts & Co LP. The shares will be sold at $100.00 per share, with the offering expected to close on August 21, 2020, subject to customary closing conditions. Fiserv will not receive any proceeds from the sale, as it is not purchasing or selling any shares in the offering. The offering is being made under an effective shelf registration statement filed with the US Securities and Exchange Commission.

Key Takeaways:

  • The offering involves the sale of 5,000,000 shares of Fiserv's common stock by New Omaha Holdings LP at $100.00 per share.
  • Fiserv is not participating in the offering and will not receive any proceeds from the sale of shares.
  • The offering will close on August 21, 2020, subject to customary closing conditions.
  • KKR Capital Markets LLC is acting as the sole bookrunner for the offering, with BTIG LLC acting as the lead manager and settlement agent.
  • This is an example of a secondary offering, where existing shareholders are selling their shares to the public.
  • Fiserv provides financial services technology worldwide, with a global presence and a strong brand reputation.

Statistics:

  • 5,000,000 shares of Fiserv's common stock are being sold in the secondary offering.
  • The offering is priced at $100.00 per share, resulting in total proceeds of $500,000,000.
  • The offering is expected to close on August 21, 2020.
  • Fiserv has a global presence, with operations in multiple countries and a large customer base.
  • The company has experience with secondary offerings, with this being one of its many capital markets activities.

Sources:

  • M2 EQUITYBITES-August 19, 2020-Fiserv reports pricing of secondary offering of 5m common shares by New Omaha Holdings at USD100.00 per share (C)2020 M2 COMMUNICATIONS http://www.m2.com