FISV - Fiserv launches secondary offering and share repurchase

Fiserv (FISV) has announced that New Omaha Holdings, owned by investment funds managed by Kohlberg Kravis Roberts & Co will offer upto 17.5M company's common shares.New Omaha intends to grant Underwriters' option to purchase up to 2.6M additional shares of common stock.Fiserv is not selling any shares nor will it receive any proceeds from the offering, New Omaha will receive all of the net proceeds. New Omaha currently holds ~105.4M shares, representing ~15.7% of Fiserv’s outstanding common shares. Following the closing of the Offering, it will hold ~13.1%  (or ~12.7% if the underwriters exercise their option to purchase additional shares in full) of Fiserv’s outstanding common shares based on the number of shares outstanding as of October 23.Company also intends to repurchase from the underwriters shares of the company’s common stock, an aggregate number of shares of common stock equal to ~$200M 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

For further details see:

Fiserv launches secondary offering and share repurchase