Fiserv Prices Public Offering Of 20 Mln Shares At $118.30/share - Quick Facts

Fiserv, Inc. (FISV) announced Friday the pricing of the previously announced underwritten public offering of 20 million shares of common stock of Fiserv by New Omaha Holdings L.P., which is owned by investment funds managed by Kohlberg Kravis Roberts & Co. L.P., at a price to the public of $118.30 per share.

In addition, New Omaha has agreed to grant the underwriters a 30-day option to purchase up to an additional 3 million shares of the company's common stock.

Fiserv is not selling any shares in, nor will it receive any proceeds from, the offering. New Omaha will receive all of the net proceeds from the offering. The offering is expected to close on May 3, 2021, subject to customary closing conditions.

Subject to the completion of the offering, Fiserv has agreed to repurchase from the underwriters 5 million shares of the company's common stock that are subject to the offering at a price per share equal to the price per share to be paid by the underwriters to New Omaha in the offering.

Fiserv intends to fund the share repurchase with cash on hand. The repurchased shares will be cancelled and no longer outstanding following the completion of the share repurchase.

Prior to the proposed offering, New Omaha owned 85.3 million shares of common stock, representing approximately 12.8% of the company's outstanding shares of common stock. Upon completion of the proposed offering, New Omaha is expected to own shares of common stock representing approximately 9.8% or approximately 9.3% if the underwriters exercise their option to purchase additional shares in full of the company's outstanding shares.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint bookrunning managers for the offering.

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