Visa Announces Expiration and Results of Exchange Offer for Class B-1 Common Stock

Business Wire05-06

SAN FRANCISCO, May 06, 2024--(BUSINESS WIRE)--Visa (NYSE:V) today announced that its Exchange Offer for Class B‑1 common stock expired on May 3, 2024. The Exchange Offer allowed each participating ...

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The Exchange Offer allowed each participating ...</p>\n\n<a href=\"https://finance.yahoo.com/news/visa-announces-expiration-results-exchange-124500369.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"V","symbol_name":"Visa","start_time":0,"source_url":"https://finance.yahoo.com/news/visa-announces-expiration-results-exchange-124500369.html","article_id":"2433323475","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/pyK4g4So8Uhmkg1XCtaOFg--~B/aD02MjI7dz0xOTIwO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/business-wire.com/31bf71999f92167233135eadc3cc7ec7"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2433323475","pubTimestamp":1714999500,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"SAN FRANCISCO, May 06, 2024----Visa  today announced that its Exchange Offer for Class B1 common stock expired on May 3, 2024. The Exchange Offer allowed each participating holder of Class B1 common stock to exchange their shares of Class B1 common stock for a combination of Visa’s Class B2 common stock, Visa’s Class C common stock and, where applicable, cash in lieu of fractional shares.Today, Visa has accepted 240,677,470 shares of Class B1 common stock tendered in the Exchange Offer. Based on the number of shares that were tendered, Visa will issue in exchange:1. in lieu of issuing fractional shares, Visa will pay cash based on the reported closing Class A common stock price on the NYSE as of the expiration date of $268.49.This communication contains forward-looking statements that relate to, among other things, the consummation of the Exchange Offer. Forward-looking statements generally are identified by words such as \"anticipates,\" \"believes,\" \"estimates,\" \"expects,\" \"intends,\" \"m","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"V":"Visa","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","BK4106":"数据处理与外包服务","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0079474960.USD":"联博美国增长基金A","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","GB00B4QBRK32.GBP":"FUNDSMITH EQUITY \"R\" (GBP) INC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","BK4534":"瑞士信贷持仓","GB00B4LPDJ14.GBP":"FUNDSMITH EQUITY \"R\" (GBP) ACC","LU0061474960.USD":"天利环球焦点基金AU Acc","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","BK4535":"淡马锡持仓","LU0965509010.AUD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (AUDHDG) INC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","BK4527":"明星科技股","BK4559":"巴菲特持仓","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4588":"碎股","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU0965509283.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (SGDHDG) INC","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","LU1046421795.USD":"富达环球科技A-ACC","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU":"陆金所","LU0690374961.EUR":"FUNDSMITH EQUITY \"R\" (EUR) INC","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","BK4581":"高盛持仓","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0690374615.EUR":"FUNDSMITH EQUITY \"R\" (EUR) ACC","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0965509101.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (SGDHDG) ACC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC"},"translate_title":"Visa宣布B-1类普通股交换要约到期及结果","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"V":1,"LU":0.6},"content_text":"SAN FRANCISCO, May 06, 2024--(BUSINESS WIRE)--Visa (NYSE:V) today announced that its Exchange Offer for Class B‑1 common stock expired on May 3, 2024. The Exchange Offer allowed each participating holder of Class B‑1 common stock to exchange their shares of Class B‑1 common stock for a combination of Visa’s Class B‑2 common stock, Visa’s Class C common stock and, where applicable, cash in lieu of fractional shares.\nToday, Visa has accepted 240,677,470 shares of Class B‑1 common stock tendered in the Exchange Offer. Based on the number of shares that were tendered, Visa will issue in exchange:1\n\n120,338,683 shares of Class B‑2 common stock;\n47,759,832 shares of Class C common stock; and\nin lieu of issuing fractional shares, Visa will pay cash based on the reported closing Class A common stock price on the NYSE as of the expiration date of $268.49.\n\nThe accepted stock represents 98 percent of outstanding Class B‑1 shares. Settlement of the exchange will be made promptly.\nAbout Visa\nVisa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.\nAdditional Information and Where to Find It\nThe Exchange Offer was made solely by the Prospectus. Visa has also filed with the SEC a Schedule TO, which contains important information about the Exchange Offer. Copies of the Prospectus, the Registration Statement, the Schedule TO, the Letter of Transmittal and other related documents, and any other information that Visa files electronically with the SEC, may be obtained free of charge at the SEC’s website at www.sec.gov.\nVisa has engaged Equiniti Trust Company, LLC and D.F. King & Co., Inc. to act respectively as exchange agent and information agent for the Exchange Offer. To obtain copies of the Prospectus, the Letter of Transmittal and other related documents and for questions about the terms of the Exchange Offer, you may contact the Information Agent toll-free at (800) 628-8509 (for stockholders) or collect at (212) 269-5550 (for brokers).\nForward-Looking Statements\nThis communication contains forward-looking statements that relate to, among other things, the consummation of the Exchange Offer. Forward-looking statements generally are identified by words such as \"anticipates,\" \"believes,\" \"estimates,\" \"expects,\" \"intends,\" \"may,\" \"projects,\" \"outlook,\" \"could,\" \"should,\" \"will,\" \"continue\" and other similar expressions. All statements other than statements of historical fact could be forward-looking statements, which speak only as of the date they are made, are not guarantees of future events and are subject to certain risks, uncertainties and other factors, many of which are beyond Visa’s control and are difficult to predict. Except as required by law, Visa does not intend to update or revise any forward-looking statements as a result of new information, future events or otherwise.\nNo Offer or Solicitation\nThis communication is for informational purposes only and is not intended to and does not constitute an offer to subscribe for, buy or sell, the solicitation of an offer to subscribe for, buy or sell or an invitation to subscribe for, buy or sell any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the Exchange Offer or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.\n_______________1 As of the expiration date, the applicable Conversion Rate for the Class B‑1 common stock and Class C common stock was 1.5875 shares of Class A common stock and 4 shares of Class A common stock, respectively.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20240506727464/en/\nContacts\nInvestor Relations: Jennifer Como, 650-432-7644, InvestorRelations@visa.com\nMedia Relations: Fletcher Cook, 650-432-2990, Press@visa.com","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2433323475"}