---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-155254"
form_type: "8-K"
ticker: "FOUR"
cik: "0001794669"
company_name: "Shift4 Payments, Inc."
filed_at: "2025-07-03T23:59:59+00:00"
generated_at: "2026-05-18T09:29:13.458085+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Shift4 completes $2.7B acquisition of Global Blue; 97.4% shares tendered at $7.50-$11.81 per share

## Summary
- Acquired 97.37% of Global Blue shares via tender; aggregate consideration ~$2.7B in cash.
- Funded with $1B term loan, $1B mandatory convertible preferred (6% Series A), and €680M + $550M senior notes.
- Shift4 amended credit facility: revolver increased $100M to $550M, added $1B term loan due 2032.
- Planned statutory squeeze-out merger to acquire remaining shares; intends to delist Global Blue from NYSE.

## SEC filing metadata
- accession: 0001193125-25-155254
- form_type: 8-K
- ticker: FOUR
- cik: 0001794669
- company_name: Shift4 Payments, Inc.
- filed_at: 2025-07-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1794669/000119312525155254/0001193125-25-155254-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1794669/000119312525155254/d36834d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-155254
- JSON: https://secwatch.observer/filing/0001193125-25-155254.json
- Plain text: https://secwatch.observer/filing/0001193125-25-155254.txt

## Key facts
- Debt Financings
  Shift4 Payments, Inc. amended revolving credit of increase from $450,000,000 to $550,000,000 with Goldman Sachs Bank USA at term SOFR (0.0% floor) + 2.00% or alternate base rate + 1.00% maturing September 5, 2029.
  - Instrument: revolving credit
  - Principal: increase from $450,000,000 to $550,000,000
  - Counterparty: Goldman Sachs Bank USA
  - Rate: term SOFR (0.0% floor) + 2.00% or alternate base rate + 1.00%
  - Maturity: September 5, 2029
  - Event: amendment
  source text: increase commitments under the existing $450,000,000 senior secured revolving credit facility under the Existing Credit Agreement (the "Existing Revolving Credit Facility") by $100,000,000 (the "Revolving Credit Facility Increase"), to an aggregate amount of $550,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1794669/000119312525155254/0001193125-25-155254-index.htm
- Debt Financings
  Shift4 Payments, Inc. incurred term loan of $1,000,000,000 with Goldman Sachs Bank USA at term SOFR (0.0% floor) + 2.75% or alternate base rate + 1.75% maturing July 3, 2032.
  - Instrument: term loan
  - Principal: $1,000,000,000
  - Counterparty: Goldman Sachs Bank USA
  - Rate: term SOFR (0.0% floor) + 2.75% or alternate base rate + 1.75%
  - Maturity: July 3, 2032
  - Event: incurrence
  source text: provide for a senior secured term loan facility in an aggregate principal amount of $1,000,000,000 (the "Term Loan Facility" and, together with the Revolving Credit Facility, the "Credit Facilities")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1794669/000119312525155254/0001193125-25-155254-index.htm
- M&A Transactions
  Shift4 Payments, Inc. completed an acquisition involving Global Blue Group Holding AG (closed 2025-07-03).
  - Action: acquisition
  - Counterparty: Global Blue Group Holding AG
  - Closing: 2025-07-03
  source text: On July 3, 2025, Shift4 Payments, Inc., a Delaware corporation (“Shift4”), announced the expiration of the cash tender offer (the “Offer”) by GT Holding 1 GmbH, a Swiss limited liability company and indirect wholly owned subsidiary of Shift4 (“Merger Sub”), to acquire all of the outstanding (i) registered ordinary shares, nominal value of CHF 0.01 per share, of Global Blue Group Holding AG (“Global Blue”), a stock corporation incorporated under the laws of Switzerland (the “Global Blue Common Shares”), at a price per share equal to $7.50 (the “Common Shares Consideration”),
  evidence_url: https://www.sec.gov/Archives/edgar/data/1794669/000119312525155254/0001193125-25-155254-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.