Shift4 files pro forma for Global Blue merger; discloses $542M TRA relief in Isaacman restructuring

Shift4 Payments, Inc.

Pro forma combined balance sheet shows $2.96B goodwill and $2.13B intangibles after Global Blue acquisition.
Restructuring with Jared Isaacman relieves Shift4 of $542M future TRA payments in exchange for $198M value.
Shift4 plans $750M mandatory convertible preferred offering and up to $1.735B permanent debt financing.
Isaacman to receive $80M cash and $118M in mandatory convertible preferred shares as part of deal.
Pro forma shows combined net loss attributable to common stockholders of $8.4M for Q1 2025.

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