Benzinga | Dec 9, 2020 07:27AM EST

Fiserv Announces Secondary Offering Of 17.5M Shares of Common Stock By New Omaha Holdings; Announces Associated Repurchase Of Its Common Stock From Underwriters Up To Aggregate Amount Of $200M

Fiserv, Inc. (NASDAQ:FISV) ("Fiserv" or the "company"), a leading global provider of payments and financial services technology solutions, announced today that New Omaha Holdings L.P. ("New Omaha"), which is owned by investment funds managed by Kohlberg Kravis Roberts & Co. L.P., intends to sell in an underwritten public offering (the "offering") a total of up to 17,500,000 shares of the company's common stock. In addition, New Omaha intends to grant the underwriters a 30-day option to purchase up to an additional 2,625,000 shares of the company's common stock at the public offering price, less underwriting discounts and commissions. Fiserv is not selling any shares in, nor will it receive any proceeds from, the offering. New Omaha will receive all of the net proceeds from the offering. The offering is expected to close on December 11, 2020, subject to customary closing conditions.

Subject to the completion of the offering, Fiserv intends to repurchase from the underwriters shares of the company's common stock that are subject to the offering up to an aggregate amount of approximately $200 million at a price per share equal to the price per share to be paid by the underwriters to New Omaha in the offering (the "share repurchase"). Fiserv intends to fund the share repurchase with cash on hand. The repurchased shares will be cancelled and no longer outstanding following the completion of the share repurchase.