How to handle the Afterpay and Block merger

Sharesight makes it easy for investors to handle corporate actions (even complicated mergers and spin-offs) and track the capital gains tax implications.

Using Sharesight to track the Afterpay (APT) and Block (SQ) merger ensures that you have an accurate record of your portfolio performance.

Summary

On the 12th of January, 2022, Afterpay (APT:ASX) announced a successful approval to be acquired by Block, formerly known as Square (SQ:NYSE). Afterpay shareholders were presented with the option to either receive CDI shares on the ASX (SQ2:ASX) or shares on the US market equivalent (SQ:NYSE).

As per the outlined scheme, shareholders will receive 0.375 units of Block shares per 1 unit that they hold in Afterpay.

To implement the merge in Sharesight, Afterpay shareholders can follow the below steps:

Implementing the Afterpay and Block Merger:

1 On the portfolio overview page click on your Afterpay (APT:ASX) holding

2 Click the Holding Settings menu on the right hand side

3 Click the Merge button

4 In the date field, enter the Implementation date of February 1st, 2022.

5 The new holding will be:

SQ2:ASX if you have taken up the CDI offer or SQ:NYSE if you have not taken up the CDI offer

6 Enter the quantity of the new Block shares that you have received; 0.375 units per 1 unit of APT:ASX. For instance, if you held 200 APT shares and took up the CDI offer, you would receive 75 units of the new SQ2:ASX holding.

7 Click save once complete, you can attach any relevant documents to the trade as needed such as the scheme of arrangements booklet.

Last modified on January 23, 2022 UTC