Block, Inc. - SQ STOCK NEWS

Square, Inc. (NYSE: SQ) announced its fourth quarter and full year 2020 results, now available on the Investor Relations website. A conference call discussing these results is set for later today. Notably, Square has purchased approximately 3,318 bitcoins for $170 million, totaling $220 million in bitcoin investments, representing 5% of its cash and equivalents. This aligns with Square's vision of cryptocurrency as a tool for economic empowerment, highlighting its ongoing commitment to bitcoin as part of its broader investment strategy.

Square will announce its financial results for Q4 and the full year of 2020 on February 23, 2021, post-market close. An earnings call and webcast are scheduled for 2:00 p.m. PT/5:00 p.m. ET on the same date. Participants can register or listen via the Investor Relations section of Square's website. Founded in 2009, Square has transformed payment processing, enabling users to accept card payments through mobile devices. The company continues to provide various tools for businesses and individuals, enhancing their ability to engage in the economy.

Square has partnered with POWDR to enhance payment and e-commerce solutions at nearly a dozen ski resorts in the U.S. and Canada. This collaboration allows for touch-free transactions and improved customer experiences in hospitality environments. Key venues include Copper Mountain and Killington, among others. Square's comprehensive software and hardware solutions enable online ordering and contactless payments, aligning with POWDR's focus on safety during the ongoing pandemic. The partnership positions Square to tap into the dynamic ski resort market.

Square has launched Square Appointments on Square Register, enhancing their point-of-sale solution specifically designed for beauty and wellness businesses. This integrated system allows sellers to manage appointments, inventory, and payments seamlessly. Key features include a modern aesthetic, a large display for staff management, and safe, contactless checkouts. The solution is priced at $799 plus processing fees. Square aims to offer a complete POS solution to improve customer experience and streamline operations for multi-staff businesses.

Square has announced its acquisition of Credit Karma Tax for $50 million in cash, aimed at enhancing its Cash App services. This acquisition allows Cash App to offer a free tax filing service to millions of Americans, aligning with its mission of economic empowerment. By integrating Credit Karma Tax, Cash App hopes to expand its ecosystem, which currently includes various financial tools. Credit Karma Tax has assisted over two million filers recently, emphasizing the growing trend of self-prepared tax returns.

Square has launched the Square KDS, a kitchen display system designed to enhance order management for restaurants amidst challenges such as shelter-in-place orders. This modern tool organizes and displays order tickets from various platforms, improving efficiency and communication between kitchen staff and customers. Users can benefit from ticket timers and performance reports, allowing better preparation during busy periods. The system is available for $60 per month with a 30-day trial for new users, supporting restaurants in adapting to evolving customer ordering preferences.

Square, Inc. (NYSE: SQ) announced the pricing of $1 billion in convertible senior notes, divided into $500 million due in 2026 and another $500 million due in 2027. The offering is expected to generate approximately $983.7 million in net proceeds, which will be utilized for convertible note hedging costs and general corporate purposes. The 2026 Notes are non-interest bearing, while the 2027 Notes carry a 0.25% annual interest rate. Notably, the initial conversion price for the Notes is approximately $299.13 per share, with cash or stock settlements at Square’s discretion.

Square, Inc. announced plans to offer $1 billion in convertible senior notes in two tranches: $500 million maturing on May 1, 2026, and $500 million on November 1, 2027. The offering is aimed at qualified institutional buyers and includes a 30-day option for initial purchasers to buy an additional $150 million in notes. The notes will be convertible into cash and/or Class A common stock. Square intends to use proceeds for hedge transactions and general corporate purposes. This announcement does not constitute an offer to sell or buy securities without proper registration.

Square, Inc. (NYSE: SQ) has released its third-quarter 2020 financial results, available on its Investor Relations website. A conference call is scheduled for 2:00 p.m. PT to discuss the results. Square offers tools for businesses and individuals to engage in the economy, including in-person and online sales, business management, and financing solutions. The Cash App allows users to manage their money and investments. Square operates in several countries, including the U.S., Canada, and the UK.