Visa Announces Expiration and Results of Exchange Offer for Class B-1 and Class B-2 Common Stock

Details

The offer allowed holders to exchange their shares for a combination of Visa's Class B-3 common stock, Class C common stock, and cash in lieu of fractional shares. Visa accepted approximately 2.7 million shares of Class B-1 common stock and approximately 119.8 million shares of Class B-2 common stock, resulting in the issuance of approximately 60.6 million shares of Class B-3 common stock, 23.3 million shares of Class C common stock, and cash payments based on the Class A common stock price. The accepted stock represents approximately 55% of outstanding Class B-1 shares and over 99% of outstanding Class B-2 shares.

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About Visa Inc.

Visa Inc. is a preeminent financial services corporation specializing in facilitating electronic payments globally. Visa operates one of the world's largest retail electronic payment networks and serves as a critical infrastructure provider within the financial ecosystem. The company's primary function is to facilitate global commerce through the transfer of value and information among financial institutions, businesses, consumers, and governments. One of Visa's notable features is its extensive network, which connects millions of merchants and cardholders, enabling secure and efficient transactions. Visa's technology and innovation in payment systems play a pivotal role in digital and online transactions, impacting various sectors, including retail, hospitality, and e-commerce. Visa's market significance lies in its ability to provide secure and reliable payment processing and its role in enabling the shift towards a cashless society. It is instrumental in driving financial inclusion, offering payment solutions that cater to diverse segments, from individuals to large enterprises. Headquartered in Foster City, California, Visa continues to lead the industry by embracing new technologies and expanding its payment solutions across emerging markets worldwide.