Block completes Afterpay acquisition; issues 113.4M shares, appoints Sharon Rothstein to board

Block, Inc.

Acquisition closed Jan 31/Feb 1, 2022; Afterpay shareholders received 0.375 Block shares per share; total issuance 113.4M shares.
Block appoints former Afterpay director Sharon Rothstein to its Board as Class III director, effective immediately.
Block amended revolver to permit Afterpay's A$1.5B zero-coupon convertible notes due 2026; noteholders may seek redemption by March 4, 2022.
Square launches first integration: Afterpay BNPL for Square Online merchants in US and Australia, aiming to drive incremental revenue.
Afterpay co-founders Nick Molnar and Anthony Eisen join Block to lead seller/consumer businesses within Square and Cash App ecosystems.

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Executive movements

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Appointed

Sharon Rothstein

Class III Director

XYZ · Block, Inc.

Effective: 2022-01-31
Filed: January 31, 2022, 6:59 PM ET

Block’s board of directors (the “Board”) increased the size of the Board from twelve to thirteen directors and appointed Sharon Rothstein, former director of Afterpay, to the Board as a Class III director, effective as of immediately following the closing of the Transaction on January 31, 2022 (Pacific Standard Time) / February 1, 2022 (Australian Eastern Daylight Time).

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Sharon Rothstein was appointed as Class III Director at Block, Inc..

Action: appointed
Role: Class III Director

Exact text from the filing

Block’s board of directors (the “Board”) increased the size of the Board from twelve to thirteen directors and appointed Sharon Rothstein, former director of Afterpay, to the Board as a Class III director, effective as of immediately following the closing of the Transaction on January 31, 2022 (Pacific Standard Time) / February 1, 2022 (Australian Eastern Daylight Time).

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Block, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-023529

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