Fiserv Inc (FISV) Announces 17.5M Share Secondary Offering of Common Stock by New Omaha Holdings and Associated Repurchase of its Common Stock

Fiserv, Inc. (NASDAQ: FISV) (“Fiserv” or the “company”), a leading global provider of payments and financial services technology solutions, announced today that New Omaha Holdings L.P. (“New Omaha”), which is owned by investment funds managed by Kohlberg Kravis Roberts & Co. L.P., intends to sell in an underwritten public offering (the “offering”) a total of up to 17,500,000 shares of the company’s common stock. In addition, New Omaha intends to grant the underwriters a 30-day option to purchase up to an additional 2,625,000 shares of the company’s common stock at the public offering price, less underwriting discounts and commissions. 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 December 11, 2020, subject to customary closing conditions.

Subject to the completion of the offering, Fiserv intends to repurchase from the underwriters shares of the company’s common stock that are subject to the offering up to an aggregate amount of approximately $200 million at a price per share equal to the price per share to be paid by the underwriters to New Omaha in the offering (the “share repurchase”). 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 105,425,667 shares of common stock, representing approximately 15.7% of Fiserv’s outstanding shares of common stock, based on the number of shares outstanding as of October 23, 2020. Upon completion of the proposed offering, New Omaha is expected to own shares of common stock representing approximately 13.1% (or approximately 12.7% if the underwriters exercise their option to purchase additional shares in full) of Fiserv’s outstanding shares of common stock, based on the number of shares outstanding as of October 23, 2020.

BofA Securities, Citigroup Global Markets Inc. and KKR Capital Markets LLC will act as the bookrunners for the offering.

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