8-KOther EventsExhibits & Filings

FISERV INC 8-K Report, Corporate Update (Aug 21, 2020)

Filed August 21, 2020For Securities:FISV

Summary

This 8-K filing from Fiserv Inc. (FISV) on August 21, 2020, primarily details the completion of a significant secondary public offering by New Omaha Holdings L.P. (New Omaha), an entity managed by Kohlberg Kravis Roberts & Co. L.P. (KKR). New Omaha sold 5,000,000 shares of Fiserv's common stock, reducing its ownership stake from approximately 16.5% to a lower percentage, as determined by the outstanding shares post-offering. Importantly, Fiserv itself was not a seller of shares and received no proceeds from this transaction; it was purely a sale by a major shareholder.

Key Highlights

  • 1Completion of a secondary public offering by New Omaha Holdings L.P. (an affiliate of KKR).
  • 25,000,000 shares of Fiserv common stock were offered and sold by New Omaha.
  • 3Fiserv Inc. did not sell any shares and received no proceeds from the offering.
  • 4Prior to the offering, New Omaha held approximately 16.5% of Fiserv's outstanding shares.
  • 5An underwriting agreement was entered into between Fiserv, New Omaha, and KKR Capital Markets LLC.
  • 6The underwriting agreement includes customary representations, warranties, and covenants.
  • 7Both Fiserv and New Omaha agreed to customary indemnification of the underwriters.

Frequently Asked Questions

The main event reported is the completion of a secondary public offering by New Omaha Holdings L.P., a significant shareholder of Fiserv Inc., selling 5,000,000 shares of Fiserv's common stock.

No, Fiserv Inc. did not sell any shares in this offering and did not receive any proceeds from the sale. The shares were sold by New Omaha Holdings L.P.

KKR, through its managed funds and New Omaha Holdings L.P., is a major shareholder in Fiserv. This offering represents a reduction in KKR's direct ownership stake in the company.

A secondary public offering means existing shares held by a large shareholder are being sold to the public, rather than new shares being issued by the company. For Fiserv investors, this could signal a change in the ownership structure but does not directly dilute existing shares or provide capital to the company.