8-KOther EventsExhibits & Filings

CORPAY, INC. 8-K Report, Corporate Update (Dec 3, 2012)

Filed December 3, 2012For Securities:CPAY

Summary

This Form 8-K filing by FleetCor Technologies, Inc. (now Corpay, Inc.) on December 3, 2012, reports on the execution of an Underwriting Agreement on November 27, 2012. This agreement pertains to the sale of an aggregate of 4,500,000 shares of the Company's common stock by certain selling stockholders, including entities associated with Summit Partners and Bain Capital, with Citigroup Global Markets Inc. acting as the underwriter. The filing indicates that this is a secondary offering, meaning existing shareholders are selling their shares rather than the company issuing new shares. This transaction is significant for investors as it impacts the outstanding share count and potentially the liquidity of the stock. The company also issued press releases on November 27 and November 28, 2012, to announce and detail the commencement of this offering.

Key Highlights

  • 1FleetCor Technologies, Inc. (CPAY) filed an 8-K on December 3, 2012.
  • 2An Underwriting Agreement was executed on November 27, 2012.
  • 3The agreement facilitates the sale of 4,500,000 shares of common stock.
  • 4The shares are being sold by existing selling stockholders, including affiliates of Summit Partners and Bain Capital.
  • 5Citigroup Global Markets Inc. is the underwriter for this offering.
  • 6This is a secondary offering, meaning existing shares are being sold, not newly issued shares by the company.
  • 7The company issued press releases on November 27 and November 28, 2012, regarding the offering.

Frequently Asked Questions

This is a secondary offering. The 4,500,000 shares of common stock being sold are by existing selling stockholders, not newly issued shares from the company.

The filing mentions entities associated with Summit Partners and Bain Capital as among the selling stockholders, along with other stockholders named in the agreement.

Citigroup Global Markets Inc. is acting as the underwriter for this offering, facilitating the sale of the common stock from the selling stockholders.

As this is a secondary offering, the proceeds from the sale of shares will go directly to the selling stockholders, not to FleetCor Technologies. Therefore, it does not directly impact the company's cash position or balance sheet, other than potentially increasing the number of shares outstanding in the public float.