Shift4 Payments Launches Mandatory Convertible Preferred Offering to Fund Global Blue Merger and Restructure

Shift4 Payments, Inc.

Shift4 launches public offering of 7.5M shares of Series A Mandatory Convertible Preferred Stock, with underwriter option for 1.125M additional shares.
Proceeds from offering, along with up to $1,735M in new debt and cash, will fund Shift4's acquisition of Global Blue Group Holding AG.
Shift4 enters restructuring agreement with founder Jared Isaacman to collapse Up-C structure, eliminating estimated $542M in future TRA payments.
Isaacman's Rook entity receives $80M cash and $118M in mandatory convertible preferred stock in private placement as part of restructuring.
Offering is not contingent on closing of the Global Blue merger; restructuring is contingent on offering and Isaacman's Senate confirmation as NASA administrator.

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