Business
REPAY Announces Share Repurchase Program, Up to $50 Million
ATLANTA--(BUSINESS WIRE)-- Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY” or the “Company”), a leading provider of vertically-integrated payment
About this update from Repay Holdings Corporation
[{"type":"text","content":" ATLANTA--(BUSINESS WIRE)--\nRepay Holdings Corporation (NASDAQ: RPAY) (“REPAY” or the “Company”), a leading provider of vertically-integrated payment solutions, today announced that its Board of Directors has authorized the commencement of a share repurchase program. The share repurchase program authorizes the Company to purchase up to $50 million of the Company’s Class A common stock.\n\n“This buyback authorization reinforces the board’s and management’s confidence in the strength of our business,” said Tim Murphy, CFO of REPAY. “We believe the current valuation of our shares does not align with the value of the Company. This program is a responsible way to deploy capital consistent with our disciplined approach. We are committed to creating value for our shareholders by continuing to prioritize capital allocation initiatives that support our growth strategies and maintain flexibility to pursue organic and inorganic growth opportunities. We believe that this repurchase program will not inhibit those growth strategies based on the anticipated free cash flow for the years ahead.”\n\nRepurchases under the program may be made in the open market, in privately negotiated transactions or otherwise, with the amount and timing of repurchases depending on market conditions and corporate needs. Open market repurchases are expected to be structured to occur within the pricing and volume requirements of Rule 10b-18. The Company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its shares under this authorization.\n\nThis program does not obligate the Company to acquire any particular amount of its Class A common stock and the program may be modified, suspended or discontinued at any time at the Company’s discretion.\n\nAbout REPAY\n\nREPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for clients, while enhancing the overall experience for consumers and businesses.\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 share repurchase program, capital alloc...