Shift4 Payments falls after convertible stock deal unveiled

Global Blue Holding

30/04/2025 14:10

** Payments processor Shift4 Payments' FOUR.N shares fall 6.2% to $84.30 premarket

** FOUR launches public offering of 7.5 million shares of 3-year mandatory convertible preferred stock

** Proceeds will be used to fund a portion of its $2.5 billion deal for retail-focused financial technology platform Global Blue GB.N and other purposes, including debt repayment

** Stock closed up 12.8% at $89.86 on Tuesday after Q1 results

     ** Goldman Sachs, Citigroup Global Markets, Wells Fargo Securities, Barclays Capital, Citizens JMP Securities, and Santander US Capital Markets are the joint book-running managers for the offering

** FOUR has 89 million outstanding shares for $8 billion market cap, per LSEG

** 18 of 23 brokerages rate the stock "buy" or higher and 5 "hold"; median PT $113 - data compiled by LSEG

** As of last close, FOUR stock was down 13.4% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))