Shift4 announces proposed stock offering

Shift4 Payments Inc. of Allentown is announcing a proposed public offering of Class A common stock.

The Allentown company, which makes point-of-sale ordering and payment processing solutions, primarily for restaurants, had its initial public offering on the New York Stock Exchange in June.

At that time Jared Isaacman, founder and CEO, purchased $100 million of the stock keeping him as the largest single shareholder in the business.

Shift4 said that it intends to offer 2 million shares of its Class A common stock for sale in an underwritten public offering.

Shift4 intends to use its net proceeds from the offering to purchase LLC interests directly from Shift4 Payments, LLC at a price per unit equal to the public offering price per share of the Class A common stock in this offering.

The company said it intends to use the net proceeds it receives from the sale of LLC interests to Shift4 for general corporate purposes.

Certain selling stockholders also intend to offer 8 million shares of Shift4’s Class A common stock for sale in the offering.

The selling stockholders also intend to grant the underwriters a 30-day option to purchase up to an additional 1.5 million shares of Shift4’s Class A common stock.

Shift4 will not receive any proceeds from the sale of shares by the selling stockholders.

Goldman Sachs & Co. LLC, Credit Suisse and Citigroup are serving as joint active bookrunners.

A registration statement relating to this offering has been filed with the Securities and Exchange Commission but has not yet become effective.

The offering will be made only by means of a prospectus. These securities may not be sold nor may offers to buy be accepted prior to the time when the registration statement becomes effective.