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Visa Concludes Exchange Offer for Class B-1, B-2 Common Stock

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Visa (V) said Monday its exchange offer for Class B-1 and B-2 common stock expired May 8.

The company accepted about 2.7 million Class B-1 shares and 119.8 million Class B-2 shares for conversion into new stock tiers, it added.

Visa will issue 60.6 million Class B-3 shares and 23.3 million Class C shares to participating holders, the company said.

The company will provide cash for fractional shares based on a $318.79 Class A closing price, Visa added.

Price: $321.21, Change: $+2.42, Percent Change: +0.76%

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