Shift4 Payments Inc Stock Price, News & Analysis

Shift4 Payments (NYSE: FOUR) reported a significant 10% drop in U.S. merchant transaction volumes from October to November, exacerbated by rising COVID-19 cases and renewed restrictions. Despite this, October's transaction volume was only down 1%, better than the historical 4% average decline. Year-over-year payment volume grew 13% in November. Hawaii showed a 5% increase, contrasting with states like Wyoming, Maine, and Vermont which experienced over 25% declines. CEO Jared Isaacman acknowledges the challenges but remains optimistic about recovery as vaccines are developed.

Shift4 Payments has completed a $690 million offering of 0.00% convertible senior notes due 2025. This includes an additional $90 million purchased by the initial buyers. The notes, which are senior, unsecured obligations, will not accrue interest and will mature on December 15, 2025, unless repurchased or converted earlier. Proceeds from the offering will be used for general corporate purposes. The offering was conducted as a private sale to qualified institutional buyers, exempt from the Securities Act registration requirements.

Shift4 Payments (NYSE:FOUR) will have its executives, including CEO Jared Isaacman, participate in a fireside chat at Goldman Sachs' 2020 US Financial Services Conference on December 8, 2020, at 2:20 PM Eastern. This event will allow for one-on-one and small group meetings with investors. Shift4 Payments is a notable leader in integrated payment processing, having managed over $200 billion in payment volume in 2019 for more than 200,000 businesses across various sectors.

Shift4 Payments (NYSE: FOUR) announced an upsized offering of $600 million in 0.00% convertible senior notes due 2025, increased from $400 million. The offering is set to close on December 7, 2020, with an option for initial purchasers to buy an additional $90 million. These senior, unsecured notes will not accrue interest and include conversion rights starting September 15, 2025. Shift4 plans to use the net proceeds for general corporate purposes. Additionally, an underwritten public offering of 8 million shares of Class A common stock is priced at $55.50 each.

Shift4 Payments (NYSE: FOUR) announced the pricing of an underwritten public offering of 8 million shares of Class A common stock at $55.50 per share from selling stockholders, with a 30-day option for underwriters to purchase an additional 1.2 million shares. The offering is set to close on December 7, 2020. Additionally, Shift4 priced a concurrent offering of $600 million in convertible senior notes due 2025, increased from a prior $400 million. Shift4 will not receive proceeds from either offering, and these transactions are not contingent upon each other.

Shift4 Payments (NYSE:FOUR) announced a secondary public offering of 8,000,000 shares of its Class A common stock by certain selling stockholders. An additional 1,200,000 shares may be purchased by underwriters within 30 days. Shift4 will not receive any proceeds from this offering. Concurrently, the company is also offering $400 million in convertible senior notes to qualified institutional buyers, with an additional option for $60 million. The registration for the share offering has been filed but is not yet effective.

Shift4 Payments (NYSE: FOUR) announced that CEO Jared Isaacman, CFO Brad Herring, and CSO Taylor Lauber will participate in a fireside chat at Citi’s 2020 Financial Technology Virtual Conference on November 18, starting at 9:00 AM Eastern. This event will include one-on-one and small group meetings with management. Investors can tune in to the live webcast via the Investor Relations website. Shift4 Payments is a leader in integrated payment processing, providing solutions across various industries, having processed over $200 billion in payments volume for more than 200,000 businesses in 2019.

Shift4 Payments (NYSE: FOUR) has announced its acquisition of 3dcart, an e-commerce platform that serves over 14,000 businesses, to enhance its payment processing capabilities. This strategic acquisition aims to deliver a unified commerce solution by integrating 3dcart's comprehensive e-commerce features, which include an intuitive website builder and customer marketing tools, with Shift4's payment technology. The CEOs of both companies expressed optimism about this partnership, emphasizing its potential to accelerate growth and improve the customer experience across industries.

Shift4 Payments (NYSE: FOUR) has released its Q3 2020 financial results, available for review on its Investor Relations website. The company leads in integrated payment processing solutions and has facilitated over $200 billion in payments volume for more than 200,000 businesses in 2019. Management will host a conference call today, November 5, 2020, at 8:30 am ET to discuss these results. Interested parties are encouraged to join through a live webcast.