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REPAY Announces Closing of Over-Allotment Option in Public Offering of Common Stock
ATLANTA--(BUSINESS WIRE)-- Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY” or the “Company”) today announced that the underwriter of its previously
About this update from Repay Holdings Corporation
[{"type":"text","content":" ATLANTA--(BUSINESS WIRE)--\nRepay Holdings Corporation (NASDAQ: RPAY) (“REPAY” or the “Company”) today announced that the underwriter of its previously announced registered underwritten public offering of 13,000,000 shares of its Class A common stock fully exercised its over-allotment option to purchase an additional 1,364,816 shares of Class A common stock from the Company. The offering of the additional shares of Class A common stock pursuant to the over-allotment option closed today.\n\nAll of the proceeds (before expenses) from the closing of the over-allotment option were used to acquire a number of units equivalent to the number of shares of Class A common stock sold, such units representing limited liability company interests of Hawk Parent Holdings LLC, the Company’s direct subsidiary, from CC Payment Holdings, L.L.C., an entity controlled by Corsair Capital LLC and its affiliates (“Corsair”), for cash. The closing of the over-allotment option, combined with the previously announced registered underwritten public offering of 13,000,000 shares of Class A common stock, resulted in an aggregate increase to the Company’s public float of Class A common stock by 14,364,816 shares. As a result of the closing of the over-allotment option and the application of the offering proceeds, Corsair and its affiliated funds no longer hold an equity stake in the Company.\n\nCorsair’s investment in REPAY’s predecessor entity occurred in September 2016. The investment was made through a Corsair fund and its related vehicles, which closed its investment period in November 2016.\n\nMorgan Stanley & Co. LLC acted as the sole underwriter of the offering. The offering was 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”). The offering was made by means of a prospectus and a prospectus supplement. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, a copy of the prospectus may be obtained from the underwriter at: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.\n\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of, or any so...