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Visa | 425: Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions

SEC announcement ·  Apr 8 21:12
Summary by Futu AI
Visa Inc. (NYSE:V) has launched an Exchange Offer for its Class B-1 common stock, which began on April 8, 2024. The offer allows holders of Class B-1 common stock to exchange their shares for a combination of Visa’s Class B-2 common stock, Class C common stock, and cash in lieu of fractional shares. The exchange ratio is based on the conversion rates of Class B-1 and Class C stock into Class A stock, with Visa issuing 0.1984 shares of Class C for each share of Class B-1 tendered. The offer is set to expire on May 3, 2024, at 11:59 p.m. New York City time, unless extended or terminated earlier by Visa. Settlement will occur promptly after the expiration date. Participation in the...Show More
Visa Inc. (NYSE:V) has launched an Exchange Offer for its Class B-1 common stock, which began on April 8, 2024. The offer allows holders of Class B-1 common stock to exchange their shares for a combination of Visa’s Class B-2 common stock, Class C common stock, and cash in lieu of fractional shares. The exchange ratio is based on the conversion rates of Class B-1 and Class C stock into Class A stock, with Visa issuing 0.1984 shares of Class C for each share of Class B-1 tendered. The offer is set to expire on May 3, 2024, at 11:59 p.m. New York City time, unless extended or terminated earlier by Visa. Settlement will occur promptly after the expiration date. Participation in the Exchange Offer requires Class B-1 stockholders to enter into a makewhole agreement, obligating them to reimburse Visa for future obligations related to certain U.S. covered litigation. The Exchange Offer is voluntary, and Class B-1 stockholders who choose not to participate need not take any action. The terms and conditions of the offer are detailed in the Prospectus filed with the SEC. Visa is a global leader in digital payments, operating across more than 200 countries and territories. The Exchange Offer is being managed by Equiniti Trust Company, LLC and D.F. King & Co., Inc. as the exchange and information agents, respectively. Visa has made no recommendation on whether or not Class B-1 stockholders should participate in the Exchange Offer.

This announcement is a separate document:

Doc 1

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