Business
Forager Capital Management Proposes to Acquire Repay Holdings Corporation for $4.80 Per Share in Cash
Proposal Represents a 75% Premium to the 30-day VWAP of $2.75BIRMINGHAM, Ala., April 17, 2026 (GLOBE NEWSWIRE) -- Forager Capital Management, LLC, the largest shareholder of Repay Holdings Corporation (NASDAQ: RPAY) (the “Company”), with beneficial ownership of approximately 13% of the issued and outstanding shares, sent the below letter to the Board of Directors of the Company, which details its $4.80 per share, all-cash proposal to acquire the Company. April 17, 2026 Repay Holdings Corporation
About this update from Repay Holdings Corporation
[{"type":"text","content":"Proposal Represents a 75% Premium to the 30-day VWAP of $2.75","length":61,"tagName":"p"},{"type":"text","content":"BIRMINGHAM, Ala., April 17, 2026 (GLOBE NEWSWIRE) -- Forager Capital Management, LLC, the largest shareholder of Repay Holdings Corporation (NASDAQ: RPAY) (the “Company”), with beneficial ownership of approximately 13% of the issued and outstanding shares, sent the below letter to the Board of Directors of the Company, which details its $4.80 per share, all-cash proposal to acquire the Company.","length":397,"tagName":"p"},{"type":"text","content":"April 17, 2026","length":14,"tagName":"p"},{"type":"text","content":"Repay Holdings Corporation3060 Peachtree Road NW, Suite 1100Atlanta, Georgia 30305Attention: Board of Directors","length":114,"tagName":"p"},{"type":"text","content":"Dear Members of the Board,","length":26,"tagName":"p"},{"type":"text","content":"I am writing to you on behalf of Forager Capital Management, LLC (“Forager”). We have followed Repay Holdings Corporation (the “Company”) since its IPO, and we currently own approximately 13% of the issued and outstanding shares. We have a high regard for the Company and its shareholders, which is why we reached out to John Morris, Rob Houser, and Stewart Grisante on April 13, 2026 to request a preliminary, exploratory discussion about a potential acquisition of the Company. We made clear at that time that we had not formed any definitive plan or proposal.","length":562,"tagName":"p"},{"type":"text","content":"We were disappointed that the Board’s immediate reaction to that exploratory outreach was to implement a shareholder rights plan less than 24 hours later. We believe this response is difficult to reconcile with a genuine commitment to maximizing shareholder value.","length":264,"tagName":"p"},{"type":"text","content":"Our Proposal","length":12,"tagName":"p"},{"type":"text","content":"We are pleased to propose acquiring 100% of the outstanding shares of Common Stock of the Company at a price of $4.80 per share in cash (the “Transaction”). The proposed $4.80 per share price represents a 75% premium to the Company’s 30-day volume-weighted average price of $2.75 and provides shareholders with certain cash value today. Given our ownership position and applicable disclosure obligations, we must publicly disclose this letter. We hope this will facilitate constr...