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REPAY Announces Closing of $125 Million Revolving Credit Facility
ATLANTA--(BUSINESS WIRE)-- Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY” or the “Company”) today announced the closing of a new undrawn $125 million
About this update from Repay Holdings Corporation
[{"type":"text","content":" ATLANTA--(BUSINESS WIRE)--\nRepay Holdings Corporation (NASDAQ: RPAY) (“REPAY” or the “Company”) today announced the closing of a new undrawn $125 million senior secured revolving credit facility.\n\n“We are pleased with the successful completion of this credit facility, which, in addition to the available proceeds from our concurrent offerings last month of convertible notes and Class A common stock, positions us well for our future acquisition opportunities,” said John Morris, CEO of REPAY. “Our M&A pipeline remains very active, with many high growth targets in large verticals that are underserved from a payment perspective.”\n\nThe new revolving credit facility replaces the Company’s prior senior secured facilities, which included an undrawn $30 million revolving credit facility. The Company paid off all term loans outstanding under its prior credit agreement following the closing last month of its concurrent offerings of convertible notes and Class A common stock.\n\nTruist Securities, Inc. acted as lead arranger, and Truist Bank will serve as the administrative agent for the new revolving credit facility.\n\nForward-Looking Statements\n\nThis communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the timing and terms of the offering and the proposed use of proceeds and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. These forward-looking statements include, but are not limited to, statements regarding future acquisition opportunities for REPAY. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.\n\nIn addition to factors previously disclosed in prior reports filed with the U.S. Securities and Exchange Commission and those identified elsewhere in this communication, th...