M&A
confidence high
sentiment neutral
materiality 0.70
Shift4 provides pro forma financials for Global Blue acquisition; details $2.8B financing plan
Shift4 Payments, Inc.
- Total consideration: $2.8B in pro forma assets; Shift4 issued $1B Mandatory Convertible Preferred Stock on May 5, 2025.
- New debt includes €680M 5.500% senior notes due 2033 and $550M 6.750% senior notes due 2032; $450M 4.625% 2026 notes to be redeemed.
- CEO Jared Isaacman to step down for NASA role; Restructuring Transaction gives him ~$198M ($80M cash + $118M preferred stock) and waives $542M TRA liability.
- Pro forma combined assets $8.5B, equity $2.0B as of March 31, 2025.