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Get filing alertsVisa completes exchange offer, accepting 98% of Class B-1/B-2 shares for new stock classes
Filed May 11, 2026 · Period ending May 11, 2026 · ~1 min read
Key Changes
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high
Visa accepted ~2.7M Class B-1 and ~119.8M Class B-2 shares, representing 98% of outstanding B-1/B-2 shares, with participation of 55% of B-1 and over 99% of B-2 shares.
Exhibit 99.1 view on EDGAR → -
high
In exchange, Visa will issue ~60.6M Class B-3 shares and ~23.3M Class C shares, plus cash for fractional shares based on Class A closing price of $318.79.
Exhibit 99.1 view on EDGAR →
Summary
Visa completed its exchange offer for Class B-1 and Class B-2 common stock, which expired May 8, 2026. The company accepted approximately 2.7 million Class B-1 shares and 119.8 million Class B-2 shares, representing about 98% of the outstanding shares in these classes. Participation was notably higher among Class B-2 holders (over 99%) than Class B-1 holders (55%).
In exchange for the tendered shares, Visa will issue approximately 60.6 million shares of Class B-3 common stock and 23.3 million shares of Class C common stock. Fractional shares will be paid in cash based on the Class A closing price of $318.79 as of the expiration date. This capital structure reorganization consolidates Visa's share classes, with the high acceptance rate indicating broad shareholder support for the exchange terms.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 1, 2026 · How we verify