Summary
This 8-K filing reports on a secondary public offering of Fiserv, Inc. (FISV) common stock completed on December 14, 2020. The offering involved 20,125,000 shares sold by New Omaha Holdings L.P., an investment vehicle managed by Kohlberg Kravis Roberts & Co. L.P. It is crucial for investors to note that Fiserv itself did not sell any shares and received no proceeds from this offering. The primary impact for Fiserv was a share repurchase of 1,817,520 shares from the underwriters at the same price as the public offering, funded by cash on hand. These repurchased shares will be cancelled, reducing the total outstanding shares.
Key Highlights
- 1New Omaha Holdings L.P. completed a secondary public offering of 20,125,000 Fiserv shares.
- 2Fiserv, Inc. did not sell any shares and received zero proceeds from the offering.
- 3Fiserv repurchased 1,817,520 of its own shares from the underwriters, funded by cash on hand.
- 4The repurchased shares will be cancelled, reducing the total number of outstanding shares.
- 5New Omaha's ownership stake in Fiserv decreased from approximately 15.7% to 12.7% post-offering.
- 6The transaction was conducted under an underwriting agreement with customary terms and indemnification clauses.
Frequently Asked Questions
No, Fiserv, Inc. did not sell any shares in this offering and therefore did not receive any proceeds. The shares were sold by a selling shareholder, New Omaha Holdings L.P.
Fiserv repurchased 1,817,520 shares from the underwriters, which will be cancelled and no longer be outstanding. This effectively reduces the total number of Fiserv's outstanding common shares.
New Omaha Holdings L.P., the selling shareholder, reduced its ownership in Fiserv from approximately 15.7% to approximately 12.7% of the outstanding shares as a result of selling shares in the offering.
Fiserv funded the share repurchase of 1,817,520 shares from its existing cash on hand.