The underwriters have an option to purchase up to $19.5 million in additional shares. The company plans to use proceeds to repay term loans and other general corporate purposes including Post-Merger Repay Units, future acquisitions, satisfaction of earnout obligations from prior acquisitions, the repayment of outstanding indebtedness and working capital. With the repayment of its term loans, the company expects to increase the amount available under its revolving credit facility. Repay raised $305 million in an offering in December.
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REPAY RAISING $402.5 MILLION Featured
Repay Holdings, which has been acquiring payments companies, is raising $402.5 million in a combination of shares and debt under a shelf offering. The company has made an offering of $130 million in shares of its Class A stock and $350 million in convertible senior notes due 2026.