8-K: Shift4 Payments Reports Strong Q1 2025 Results, Raises Full-Year Guidance

Filings with Classifications

Worse than expected

4 June 2025 9:29 PM

Proxy Statement Supplement

The previously announced restructuring transactions, which aimed to simplify the company's organizational and capital structure (Up-C Collapse and TRA waiver), have been terminated.
The termination occurred because a key condition for the restructuring was not met, indicating a failure to achieve a significant strategic objective previously communicated.

Capital raise

16 May 2025 5:03 PM

Debt Offering Announcement

Shift4 Payments, LLC and Shift4 Payments Finance Sub, Inc. completed the issuance and sale of 680 million aggregate principal amount of 5.500% Senior Notes due 2033 (the Euro Notes) and $550 million aggregate principal amount of 6.750% Senior Notes due 2032 (the New 2032 Notes and, together with the Euro Notes, the Notes).

Capital raise

15 May 2025 4:20 PM

Pro Forma Financial Information

Shift4 issued 10,000,000 shares of 6.00% Series A Mandatory Convertible Preferred Stock, raising $1,000,000,000.
Shift4 LLC expects to incur a new seven-year $1,000 million senior secured term loan B facility.
Shift4 LLC and Shift4 Payments Finance Sub, Inc. are offering 680 million aggregate principal amount of 5.500% senior notes due 2033 (the Euro Notes) and $550 million in aggregate principal amount of their 6.750% senior notes due 2032.

Capital raise

8 May 2025 5:25 PM

Debt Offering Announcement

Shift4 Payments is issuing €680 million in 5.500% senior notes due 2033.
Shift4 Payments is issuing $550 million in additional 6.750% senior notes due 2032.
The company intends to use the proceeds, along with other financing sources, to fund the acquisition of Global Blue and repay existing debt.

Capital raise

5 May 2025 4:35 PM

8-K Filing

Shift4 Payments issued 10,000,000 shares of 6.00% Series A Mandatory Convertible Preferred Stock.
The offering generated $1 billion in aggregate liquidation preference.
The company intends to use the net proceeds from the offering, along with additional debt financing of up to $1,735.0 million, to fund the acquisition of Global Blue Group Holding AG and for general corporate purposes.

Capital raise

30 April 2025 9:24 AM

Capital Raise Announcement

Shift4 Payments is launching an underwritten public offering of 7,500,000 shares of Series A Mandatory Convertible Preferred Stock.
The company expects to grant underwriters a 30-day option to purchase up to 1,125,000 additional shares to cover over-allotments.
Shift4 intends to raise up to $1,735.0 million in additional permanent debt financing.

Capital raise

30 April 2025 7:13 AM

8-K Filing

Shift4 is proposing to issue $750.0 million Series A Mandatory Convertible Preferred Stock via an underwritten public offering.
Shift4 expects to grant to the underwriters a 30-day option to purchase up to an additional 15% of shares of Mandatory Convertible Preferred Stock at the public offering price, less underwriting discounts and commissions, solely to cover over-allotments.
Shift4 and/or Shift4 LLC intend to obtain certain permanent debt financing, both secured and unsecured, of up to $1,735.0 million in order to finance a part of the cash consideration payable by Shift4 to consummate the Merger with Global Blue in lieu of leveraging the Bridge Facilities.

Delay expected

29 April 2025 4:05 PM

Quarterly Report

Merger Sub announced an extension of the Expiration Time of the Offer until one minute after 11:59 p.m., New York City time, on May 6, 2025.

Capital raise

29 April 2025 4:05 PM

Quarterly Report

Shift4 Payments, LLC (directly or through Shift4 and/or one or more of its subsidiaries) also intends to pursue a permanent financing arrangement with the Commitment Parties, as contemplated by the Debt Commitment Letter, which may include a combination of senior unsecured and/or unsecured notes, mandatory convertible or perpetual preferred equity and/or a senior secured term loan B facility (the Permanent Financing), in each case, on terms and conditions to be set forth in the definitive documentation for such Permanent Financing.

Better than expected

29 April 2025 7:14 AM

Earnings Release

The company is raising its full-year guidance for gross revenue less network fees and adjusted EBITDA by $10 million on both the low and high end.
Shift4 Payments experienced record payment volumes, gross revenue less network fees, and adjusted EBITDA in Q1 2025.

Better than expected

19 February 2025 4:06 PM

Annual Report

The company's end-to-end payment volume increased by 51% to $164.8 billion for the year ended December 31, 2024.
Gross revenue less network fees increased by 44% to $1.35 billion.
Adjusted EBITDA increased to $677.4 million, compared to $459.9 million in the previous year.
The company released a valuation allowance against certain deferred tax assets, resulting in an income tax benefit of $296.1 million.

Capital raise

19 February 2025 4:06 PM

Annual Report

Shift4 Payments, LLC, entered into a commitment letter with Goldman Sachs Bank USA (GS), pursuant to which GS has committed to (i) provide Shift4 Payments, LLC with 364-day bridge loan facilities in an aggregate principal amount of $1.795 billion (the Bridge Facilities), consisting of (x) a senior secured 364-day bridge loan facility in an aggregate principal amount of $1.0 billion (the Senior Secured Bridge Facility) and (y) a senior unsecured 364-day bridge loan facility in an aggregate principal amount of $795.0 million (the Senior Unsecured Bridge Facility), in each case, subject to customary conditions, and (ii) to backstop an amendment to, or replacement of, Shift4 Payments, LLCs existing $450.0 million senior secured revolving credit facility (the Backstop Revolving Facility and, together with the Bridge Facilities, collectively, the Facilities) in order to, among other things, permit the consummation of the transactions contemplated by the Transaction Agreement, the incurrence of the Bridge Facilities and any other permanent financing issued in lieu thereof or to refinance the loans thereunder, in each case, subject to customary conditions.

Capital raise

18 February 2025 4:22 PM

Merger Announcement

Shift4 expects to finance the acquisition with cash on hand and a 364-day $1.795 million bridge loan facility entered in connection with the transaction.

Better than expected

12 November 2024 4:29 PM

Quarterly Report

The company's revenue and payment volume growth exceeded expectations.
The company released a valuation allowance against deferred tax assets, resulting in a significant tax benefit.
The company's net income attributable to Shift4 Payments, Inc. increased to $53.8 million.

Better than expected

12 November 2024 7:04 AM

Quarterly Report

The company exceeded expectations with record payment volume, strong revenue growth, and increased profitability.
Shift4 raised its full-year guidance, indicating confidence in continued performance.
The company's adjusted EBITDA and free cash flow were better than anticipated.

Capital raise

15 August 2024 5:27 PM

Debt Offering Announcement

The document details the completion of a $1.1 billion senior notes offering.
The company received net proceeds of approximately $1,087.9 million.
The proceeds will be used for general corporate purposes, including debt retirement, acquisitions, and stock repurchases.

Capital raise

12 August 2024 8:40 PM

Debt Offering Announcement

Shift4 Payments is raising $1.1 billion through a private offering of senior notes.
The notes are being offered to qualified institutional buyers and certain persons outside the United States.
The proceeds will be used for general corporate purposes, including potential debt repayment.

Capital raise

12 August 2024 8:25 AM

Debt Offering Announcement

Shift4 Payments is proposing to offer $1.1 billion aggregate principal amount of senior notes.
The offering is a private placement to qualified institutional buyers and certain persons outside the United States.

Better than expected

8 August 2024 6:29 PM

Quarterly Report

The company's revenue, payment volume, and subscription growth all exceeded expectations.
The company's net income and adjusted EBITDA also showed significant improvement compared to the prior year.

Better than expected

8 August 2024 7:02 AM

Quarterly Report

The company's Q2 results exceeded expectations, leading to an increase in full-year guidance.
The company's end-to-end payment volume, gross revenue, and adjusted EBITDA all showed significant year-over-year growth, surpassing previous estimates.
The company's organic revenue growth was strong at 24%, with an expected acceleration in the back half of the year.

Better than expected

9 May 2024 5:51 PM

Quarterly Report

The company's revenue, payment volume, and adjusted EBITDA all exceeded expectations, indicating strong financial performance.
The company's growth in subscription revenue and international expansion are positive indicators for future performance.

Better than expected

9 May 2024 7:13 AM

Quarterly Report

The company's Q1 results exceeded expectations with a 50% increase in end-to-end payment volume and a 36% increase in adjusted EBITDA, indicating better than expected performance.

Better than expected

29 February 2024 4:06 PM

Annual Results

The company's gross revenue increased by 29%, and end-to-end payment volume increased by 52%, both exceeding expectations.

Delay expected

27 February 2024 7:05 AM

Quarterly Report

The company experienced delays in closing enterprise deals and the timing of certain multi-billion-dollar gateway migrations, which slightly impacted gross revenue less network fees.

Better than expected

27 February 2024 7:05 AM

Quarterly Report

The company's key financial metrics, including end-to-end payment volume, gross profit, and adjusted EBITDA, all exceeded expectations, demonstrating strong growth and profitability.