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Repay Holdings Corporation Class A Common Stock (symbol: RPAY), established in 2006, is a full-service provider of electronic transaction processing services tailored for retail merchants. The company offers a comprehensive suite of solutions, including credit and debit card processing, gift cards, ACH, bank account verification, electronic bill payment, and instant funding. Repay currently supports over 5,000 merchant locations across various product lines.
Repay’s management team has demonstrated consistent success since the company’s inception, focusing on key areas such as sales, risk mitigation, merchant support, and the effective use of its proprietary software platform. This strategic approach has positioned Repay as one of the fastest-growing companies in the United States, earning it the #330 spot on the Inc. 500 list in 2012.
The company is engaged in providing integrated payment processing solutions to a range of verticals with transaction processing needs. Repay's services enable customers to make payments via multiple channels, including Mobile App, Text, Interactive Voice Response, Virtual Terminal, Hosted Payment Page, and Online Customer Portal. The company's operations are divided into two segments: Consumer Payments and Business Payments.
Repay continues to expand its footprint through strategic partnerships, innovative projects, and cutting-edge technology. The company is committed to delivering exceptional service and support to its clients, ensuring seamless and secure payment processing. With a robust financial condition and a forward-looking approach, Repay Holdings Corporation is well-positioned to maintain its growth trajectory and continue providing valuable services to its growing customer base.
Repay Holdings Corporation (NASDAQ: RPAY) has announced the pricing of $400 million in 0.00% convertible senior notes due 2026, increasing from the previously stated $350 million. The offering is aimed at qualified institutional buyers and includes an option for initial purchasers to buy an additional $40 million. Notes will be convertible into shares at an initial rate of 29.7619 shares per $1,000 principal amount, equating to $33.60 per share. Proceeds will be used to repay term loans and for general corporate purposes. The closing is scheduled for January 19, 2021.
Repay Holdings Corporation (NASDAQ: RPAY) announced a public offering of 5,430,000 shares of its Class A common stock priced at $24.00 per share. The offering includes a 30-day option for underwriters to purchase up to 814,500 additional shares. Closing is slated for January 19, 2021, contingent on customary conditions. The net proceeds will be utilized for repaying term loans, funding general corporate purposes, and increasing the revolving credit facility's availability. The offering is made under an effective shelf registration statement filed with the SEC.
Repay Holdings Corporation (NASDAQ: RPAY) has commenced an underwritten public offering of $130 million in Class A common stock, with an additional $19.5 million option for underwriters. The net proceeds will be used primarily for repaying existing term loans and other corporate purposes, including potential acquisitions and working capital. Credit Suisse, Barclays, Citigroup, and Truist are managing the offering. This follows a previously filed effective shelf registration statement with the SEC.
Repay Holdings Corporation (NASDAQ: RPAY) has announced a planned private offering of $350 million in convertible senior notes due 2026, with an option for initial purchasers to acquire an additional $52.5 million. These notes will be unsecured, with interest payable semi-annually, and can be converted into cash or shares of Class A common stock under certain conditions. The proceeds will primarily be used for repaying term loans and general corporate purposes. The completion of this offering is not guaranteed and depends on market conditions.
Repay Holdings Corporation (NASDAQ: RPAY) has announced a technology integration partnership with LiveVox, enhancing customer experiences by offering digital payment options and processing capabilities. This collaboration enables accounts receivable and collections teams to accept various payment methods, such as credit and debit cards and ACH payments, 24/7 within the LiveVox platform. The partnership aims to improve agent performance and meet growing customer preferences for digital transactions, benefitting both B2B and B2C markets.
Repay Holdings Corporation (NASDAQ: RPAY) has announced a strategic partnership with the Strategic Regional Healthcare Organization (SRHO), enhancing payment solutions for healthcare providers. This collaboration, facilitated through CPS Payment Services, will deliver automation capabilities for accounts payable disbursements, optimizing efficiencies and generating cost savings. CPS's TotalPay platform will help healthcare clients achieve significant monthly cash rebates, reportedly up to 50% higher than traditional bank programs. The partnership aims to alleviate payment processing complexities and improve the financial performance of health system members.
Repay Holdings Corporation (NASDAQ: RPAY) announced participation in two upcoming virtual investor conferences. On December 1, 2020, management will host a fireside chat at the Wells Fargo TMT Summit at 12:40 PM ET. The following day, December 2, 2020, they will participate in the Credit Suisse 24th Annual Technology Conference, starting at 10:10 AM ET. Both discussions will be webcasts available on the Company's investor relations website, where archived sessions can also be accessed for 90 days.
REPAY specializes in integrated payment processing solutions tailored to specific transaction needs.
Repay Holdings Corporation (NASDAQ: RPAY) announced that its management team will participate in a fireside chat at Citi’s 2020 Financial Technology Virtual Conference on November 17, 2020, at 10:30am ET. The chat will be webcast live on the Company’s investor relations website, with an archived version available for 90 days. REPAY specializes in integrated payment processing solutions tailored for specific transaction needs, simplifying electronic payments while improving consumer and business experiences.
Repay Holdings Corporation (NASDAQ: RPAY) has established an advisory board for its Service Transfer Exchange (STX) solution, aiming to streamline mortgage payment processing. The board includes leaders from LoanCare, loanDepot, PHH Mortgage, RoundPoint Mortgage Servicing, Shellpoint Mortgage Servicing, and US Bank. By addressing the challenges of service transfers, the board seeks to design standards that improve payment workflows, reduce errors, and enhance borrower experiences during the 60-day grace period, ultimately promoting better payment flows within the mortgage sector.
Repay Holdings Corporation (NASDAQ: RPAY) has successfully completed the acquisition of CPS Payment Services for approximately $78 million in cash, with potential earnouts of up to $15 million based on performance through December 2022. This acquisition is expected to significantly enhance REPAY's B2B payment solutions and broaden its market reach into sectors like education and government. CPS, founded in 2011, provides automated payment technology, serving over 160 enterprise clients across various sectors including healthcare and media.
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