VISA INC. (NYSE:V) Files An 8-K Other Events
Item8.01.
| Other Events. |
On May31, 2017, Visa Inc. (the Company), in connection with a
registered underwritten public offering of its class A common
stock (the Offering), entered into an underwriting agreement (the
Underwriting Agreement) with Visa Foundation (the Selling
Stockholder), and Merrill Lynch, Pierce, Fenner Smith
Incorporated (the Underwriter), to which the Selling Stockholder
agreed to sell to the Underwriter an aggregate of 2,199,180
shares of class A common stock of the Company. The Company did
not receive any proceeds from the sale of shares of class A
common stock by the Selling Stockholder.
A copy of the Underwriting Agreement is contained in Exhibit 1.1
hereto, which exhibit is incorporated by reference into this Item
8.01. The above description is qualified in its entirety by
reference to such exhibit.
A copy of the Underwriting Agreement has been included to provide
security holders with information regarding its terms. It is not
intended to provide any other factual information about the
Company or the Selling Stockholder. The representations,
warranties and covenants contained in the Underwriting Agreement
were made solely for purposes of the Offering and as of specific
dates, were solely for the benefit of the parties to the
Underwriting Agreement, may be subject to limitations agreed upon
by the contracting parties, including being qualified by
confidential disclosures made for the purposes of allocating
contractual risk between the parties to the Underwriting
Agreement instead of establishing these matters as facts, and may
be subject to standards of materiality applicable to the
contracting parties that differ from those applicable to security
holders. Security holders are not third-party beneficiaries under
the Underwriting Agreement and should not rely on the
representations, warranties and covenants or any descriptions
thereof as characterizations of the actual state of facts or
condition of the Company. Moreover, information concerning the
subject matter of the representations and warranties may change
after the date of the Underwriting Agreement, which subsequent
information may or may not be fully reflected in the Companys
public disclosures.
| Item9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| 1.1 |
Underwriting Agreement dated May31, 2017 among Visa Inc., Visa Foundation and Merrill Lynch, Pierce, Fenner Smith Incorporated |
About VISA INC. (NYSE:V)
Visa Inc. (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants. The Company’s transaction processing network facilitates authorization, clearing and settlement of payment transactions and enables to provide its financial institution and merchant clients a range of products, platforms and value-added services. The Company is a retail electronic payment network based on payments volume, number of transactions and number of cards in circulation. Its products/services include core products, processing infrastructure, transaction processing services, digital products, merchant products, and risk products and payment security initiatives.
