Shift4 Payments Raises $550M Via Private Upsized Senior Convertible Note Offering

July 22, 2021 8:21 AM | 1 min read | Make a Comment

Shift4 Payments Inc FOUR priced $550 million 0.50% senior convertible notes due 2027 in an upsized private institutional offering.
Previously the offering was worth $500 million.
The initial purchasers of the notes have a 13-day option to purchase additional notes up to $82.5 million, up from the previous $75 million.
The initial conversion price of $122.66 per share represents a premium of 42.5% on Shift4 Payments' Wednesday closing price of $86.08.
Additionally, the selling stockholders have determined not to pursue the previously announced proposed equity offering.
Price action: FOUR shares traded higher by 4.79% at $90.2 in the premarket session on the last check Thursday.

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