Visa Inc. has announced an issuer tender offer, as detailed in a Schedule TO filed with the Securities and Exchange Commission. The offer involves an exchange of any and all outstanding shares of Visa's Class B-1 common stock for a combination of Class B-2 common stock, Class C common stock, and potentially cash in lieu of fractional shares. The exchange is subject to terms and conditions outlined in the Prospectus dated April 8, 2024. Participants in the exchange are required to enter into a Makewhole Agreement, obligating them to reimburse Visa for future obligations related to certain U.S. litigation that would have been borne by the holder of Class B-1 common stock. The exchange offer is set to expire at...Show More

Visa Inc. has announced an issuer tender offer, as detailed in a Schedule TO filed with the Securities and Exchange Commission. The offer involves an exchange of any and all outstanding shares of Visa's Class B-1 common stock for a combination of Class B-2 common stock, Class C common stock, and potentially cash in lieu of fractional shares. The exchange is subject to terms and conditions outlined in the Prospectus dated April 8, 2024. Participants in the exchange are required to enter into a Makewhole Agreement, obligating them to reimburse Visa for future obligations related to certain U.S. litigation that would have been borne by the holder of Class B-1 common stock. The exchange offer is set to expire at one minute after 11:59 P.M., New York City time, on May 3, 2024, unless extended. Visa's CEO, Ryan McInerney, is the authorized person to receive notices and communications regarding the offer. The exchange aims to streamline Visa's common stock structure and is not open to the public market as there is no established public trading for Class B-1 common stock.