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REPAY Announces Further Extension of Expiration Date for the Consent Solicitation for Public Warrants
ATLANTA--(BUSINESS WIRE)-- Repay Holdings Corporation (NASDAQ: RPAY) (the “Company” or “REPAY”) announced today that it has further extended the expiration
About this update from Repay Holdings Corporation
[{"type":"text","content":" ATLANTA--(BUSINESS WIRE)--\nRepay Holdings Corporation (NASDAQ: RPAY) (the “Company” or “REPAY”) announced today that it has further extended the expiration date for its previously announced consent solicitation from holders of its outstanding public warrants (CUSIP No. 76029L 118) (the “Public Warrants” and together with private placement warrants, the “Warrants”) to approve amendments (the “Proposed Amendments”) to the existing warrant agreement, as previously amended, relating to the Warrants (the “Warrant Agreement”) for the purpose of curing certain ambiguities relating to a “cashless exercise” of the Warrants. The Proposed Amendments will clarify that, in connection with any “cashless exercise” of the Warrants, as the fair market value relates to one share of Class A Common Stock, the Warrant Price (as defined in the Warrant Agreement) also relates to one share of Class A Common Stock.\n\n\nThe expiration date for the consent solicitation has been extended to 5:00 p.m., New York City time, on April 21, 2020 (such date and time, as the Company may further extend from time to time, the “Expiration Date”). This second extension is intended to provide registered holders with additional time to process and comply with the procedures for delivering consents. Holders of the Public Warrants that have previously delivered consents do not need to redeliver such consents or take any other action in response to this announcement in order to consent to the Proposed Amendments.\n\n\nExcept for the extended Expiration Date described above, the terms and conditions of the consent solicitation set forth in the Consent Solicitation Statement, dated March 24, 2020, as amended (as it may be amended or supplemented from time to time, the “Consent Solicitation Statement”), and the accompanying Consent Form (together, the “Consent Solicitation Documents”), remain the same. The Company may, in its sole discretion, terminate, further extend or amend the consent solicitation at any time as described in the Consent Solicitation Statement.\n\n\nIf the requisite consents are not obtained and the Proposed Amendments do not become operative, the Company will not elect to allow holders of Warrants to exercise such Warrants on a “cashless basis” in the event of a redemption pursuant to the Warrant Agreement. Accordingly, in the event the Company issues a...