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Visa | SC TO-I/A: Third party tender offer statement (Amendment)

SEC announcement ·  May 6 21:19
Summary by Futu AI
Visa Inc. has successfully completed its Exchange Offer, which expired on May 3, 2024. The offer involved the exchange of 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 cash in lieu of fractional shares. The terms of the transaction were set forth in the Prospectus dated April 8, 2024. A total of 240,677,470 shares of Class B-1 common stock were tendered and not withdrawn by the expiration date. In response, Visa has agreed to issue 120,338,683 shares of Class B-2 common stock and 47,759,832 shares of Class C common stock, with the conversion rates based on the number of shares of Class A common stock they are convertible into. Additionally, Visa will pay cash in lieu of issuing fractional shares, calculated based on the closing price of Class A common stock on the NYSE as of the expiration date. The completion of the Exchange Offer was announced by Visa in a press release on May 6, 2024.
Visa Inc. has successfully completed its Exchange Offer, which expired on May 3, 2024. The offer involved the exchange of 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 cash in lieu of fractional shares. The terms of the transaction were set forth in the Prospectus dated April 8, 2024. A total of 240,677,470 shares of Class B-1 common stock were tendered and not withdrawn by the expiration date. In response, Visa has agreed to issue 120,338,683 shares of Class B-2 common stock and 47,759,832 shares of Class C common stock, with the conversion rates based on the number of shares of Class A common stock they are convertible into. Additionally, Visa will pay cash in lieu of issuing fractional shares, calculated based on the closing price of Class A common stock on the NYSE as of the expiration date. The completion of the Exchange Offer was announced by Visa in a press release on May 6, 2024.
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