Shift4 Announces Stock Repurchase Program, Up to $100 Million
16 Dezember 2021 - 10:45PM
Business Wire
Shift4 Payments, Inc. (NYSE: FOUR) (the “Company”) today
announced that its Board of Directors has authorized the
commencement of a stock repurchase program. The stock repurchase
program authorizes the Company to repurchase up to $100 million of
the Company’s Class A common stock, par value $0.0001 (“Common
Stock”) and will expire on December 31, 2022, subject to market
conditions, contractual restrictions and other factors.
Jared Isaacman, Chairman and CEO of Shift4 Payments, Inc., said,
“This buyback authorization reinforces the board and management’s
confidence in the strength of the Company. We believe the current
market value of our shares does not accurately reflect the value of
the Company. This program represents a responsible way to deploy
capital consistent with our disciplined approach. We are committed
to creating value for our shareholders by continuing to prioritize
capital allocation initiatives that support our growth strategies
and maintain flexibility to pursue organic and inorganic market
expansion. We believe that this repurchase program will not hinder
those efforts based upon the significant amount of cash on our
balance sheet and the anticipated free cash flow for the year
ahead.”
Repurchases under the program may be made in the open market, in
privately negotiated transactions or otherwise, with the amount and
timing of repurchases depending on market conditions and corporate
needs. Open market repurchases will be structured to occur within
the pricing and volume requirements of Rule 10b-18. The Company may
also, from time to time, enter into Rule 10b5-1 plans to facilitate
repurchases of its shares under this authorization.
This program does not obligate the Company to acquire any
particular amount of Common Stock and the program may be extended,
modified, suspended or discontinued at any time at the Company’s
discretion.
Forward Looking Statement:
Except for historical information, all of the statements,
expectations, and assumptions contained in this press release are
forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995, including statements
regarding the Company’s stock repurchase program and the Company’s
business strategy and plans and objectives of management for future
operations. Actual results may differ materially from those
explicit or implicit in the forward-looking statements. Important
factors that could cause actual results to differ materially
include, but are not limited to: the fact that Common Stock
repurchases may not be conducted in the timeframe or in the manner
the Company expects, or at all, and the other risk factors
disclosed in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2020, as updated by the Company’s other filings
with the Securities and Exchange Commission, copies of which are
available free of charge on the Company’s website at
investors.shift4.com. The Company assumes no obligation and does
not intend to update these forward-looking statements, except as
required by law.
About Shift4
Shift4 (NYSE: FOUR) is boldly redefining commerce by simplifying
complex payments ecosystems across the world. As the leader in
commerce-enabling technology, Shift4 powers billions of
transactions annually for hundreds of thousands of businesses in
virtually every industry. For more information, visit
www.shift4.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20211216006148/en/
Investor Relations:
Thomas McCrohan EVP, Strategy and Investor Relations Shift4
(484) 735-0779 tmccrohan@shift4.com
Sloan Bohlen Managing Director Solebury Trout
investors@shift4.com
Media Contact:
Nate Hirshberg VP, Marketing Shift4 nhirshberg@shift4.com
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