Repay Holdings Corporation (RPAY) Prices 5.43M Share Common Offering at $24/Sh

Repay Holdings Corporation (NASDAQ: RPAY) announced today the pricing of a previously announced underwritten public offering for 5,430,000 shares of its Class A common stock at $24.00 per share. The Company has granted the underwriters a 30-day option to purchase up to 814,500 additional shares of Class A common stock at the public offering price, less underwriting discounts and commissions. The sale of the shares of Class A common stock is expected to close on January 19, 2021, subject to customary closing conditions.

REPAY intends to use the net proceeds from the offering, together with the net proceeds from a concurrent private offering of convertible senior notes, for the repayment of the term loans issued under its existing credit agreement and other general corporate purposes, which may include, without limitation, repurchase, redemption or retirement of securities, including interests in Hawk Parent Holdings LLC, future acquisitions, satisfaction of earnout obligations from prior acquisitions, the repayment of outstanding indebtedness and working capital. In connection with the repayment of the term loans, REPAY expects to seek to increase the amount of availability under its revolving credit facility.

Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are acting as joint book-running managers for the offering. Citigroup Global Markets Inc., Truist Securities, Inc. and William Blair & Company, L.L.C. are also acting as book-runners for the offering. BTIG, LLC, Keefe, Bruyette & Woods, Inc., D.A. Davidson & Co. and Northland Capital Markets are acting as co-managers for the offering.

The offering is being made pursuant to an effective shelf registration statement (including a prospectus) on Form S-3 (File No. 333-248483) previously filed with the Securities and Exchange Commission (“SEC”). Before investing, interested parties should read the prospectus supplement, accompanying prospectus and other documents filed by the Company with the SEC for information about the Company and this offering.

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