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Repay Holdings Corporation - RPAY STOCK NEWS

Welcome to our dedicated page for Repay Holdings Corporation news (Ticker: RPAY), a resource for investors and traders seeking the latest updates and insights on Repay Holdings Corporation stock.

Repay Holdings Corporation Class A Common Stock (symbol: RPAY), established in 2006, is a full-service provider of electronic transaction processing services tailored for retail merchants. The company offers a comprehensive suite of solutions, including credit and debit card processing, gift cards, ACH, bank account verification, electronic bill payment, and instant funding. Repay currently supports over 5,000 merchant locations across various product lines.

Repay’s management team has demonstrated consistent success since the company’s inception, focusing on key areas such as sales, risk mitigation, merchant support, and the effective use of its proprietary software platform. This strategic approach has positioned Repay as one of the fastest-growing companies in the United States, earning it the #330 spot on the Inc. 500 list in 2012.

The company is engaged in providing integrated payment processing solutions to a range of verticals with transaction processing needs. Repay's services enable customers to make payments via multiple channels, including Mobile App, Text, Interactive Voice Response, Virtual Terminal, Hosted Payment Page, and Online Customer Portal. The company's operations are divided into two segments: Consumer Payments and Business Payments.

Repay continues to expand its footprint through strategic partnerships, innovative projects, and cutting-edge technology. The company is committed to delivering exceptional service and support to its clients, ensuring seamless and secure payment processing. With a robust financial condition and a forward-looking approach, Repay Holdings Corporation is well-positioned to maintain its growth trajectory and continue providing valuable services to its growing customer base.

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Repay Holdings (NASDAQ: RPAY) has announced the successful closing of a $250 million senior secured revolving credit facility. This new facility replaces and expands the previous $185 million facility, remaining undrawn. John Morris, Co-founder and CEO, emphasized that the new credit facility, along with the recently completed convertible notes offering, will provide financial flexibility for continued focus on profitable growth and cash generation. Truist Securities, Inc. acted as the lead arranger, and Truist Bank will serve as the administrative agent for this facility.

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Repay Holdings (NASDAQ: RPAY) announced the successful closing of its $287.5 million offering of 2.875% convertible senior notes due 2029. This includes a $27.5 million option exercised by the initial purchasers. The proceeds will address $220 million of the company's 2026 maturities, fund capped call transactions, and repurchase 3.9 million shares, aiming to minimize shareholder dilution. The initial conversion price is approximately $13.02 per share, with a capped call price at $20.42. The interest rate is 2.875% per annum, payable semiannually, starting January 15, 2025.

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Repay Holdings (NASDAQ: RPAY) announced the pricing of its $260 million convertible senior notes due 2029, with an option for initial purchasers to buy an additional $27.5 million. The offering, closing on July 8, 2024, aims to net approximately $252.4 million, or $279.2 million if the option is exercised. The proceeds will primarily fund the repurchase of 2026 notes, capped call transactions, common stock repurchase, and general corporate purposes.

The notes will accrue interest at 2.875% annually and can be converted into cash or common stock under specific conditions. The initial conversion price is set at $13.02 per share, representing a 27.5% premium over the July 2, 2024, closing price. Redemption is possible after July 20, 2027, under certain conditions.

Capped call transactions aim to limit dilution and offset cash payments. The company also plans to repurchase $220 million of 2026 notes and approximately 3.9 million shares of common stock at $10.21 per share. The notes will be offered to qualified institutional buyers under Rule 144A.

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Repay Holdings (NASDAQ: RPAY) has announced an offering of $260 million in convertible senior notes due 2029, with an option for initial purchasers to buy an additional $27.5 million. The proceeds will be used for capped call transactions, repurchasing a portion of existing 2026 notes, buying back shares of common stock, and general corporate purposes. The notes, accruing interest semi-annually and maturing on July 15, 2029, will be convertible into cash, shares, or a combination. Repay's strategy includes entering into capped call transactions to mitigate potential dilution. The company is also in negotiations to repurchase 2026 notes, potentially influencing the market price of common stock. The offering will be exclusive to qualified institutional buyers under Rule 144A.

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Repay Holdings (NASDAQ: RPAY) has announced new enhancements to its integration with CU*Answers, a core processing solutions provider for credit unions. These enhancements include real-time payment posting and tracking, simplified sign-in capabilities, and streamlined loan payment options.

These improvements aim to benefit both credit union members and business operations by securely accepting ACH and card payments through various channels such as web, mobile, IVR, or text. The real-time posting feature ensures immediate payment updates, reducing the risk of invalid penalties and unnecessary collection efforts.

The Single Sign-On (SSO) capabilities simplify the digital payment experience by allowing members to access the payment portal directly through CU*Answers' It’s Me 247 Online Banking platform without re-entering login credentials. This not only speeds up the payment process but also enhances security.

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Repay Holdings (NASDAQ: RPAY), a leading integrated payment solutions provider, has been recognized as WEX's Partner of the Year and inducted into the WEX Circle of Excellence at the WEX 2023 Community Awards. This accolade highlights REPAY's innovative approach and collaboration with WEX in providing next-generation payment technology for B2B vendor payments.

REPAY's automated vendor payment platform, which includes virtual card issuance and processing support from WEX, offers simplicity and efficiency, enhancing AP processes while ensuring security against payment fraud. REPAY's EVP, Darin Horrocks, emphasized the importance of this partnership in delivering secure, integrated solutions that drive client growth.

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REPAY (NASDAQ: RPAY) has achieved Certified Integration Partner status with Corelation, a core processor for credit unions. This partnership allows REPAY to integrate with Corelation's KeyStone platform, simplifying operations and streamlining payment processing for credit unions. The certification ensures that REPAY meets best practices and security standards via the KeyBridge API. This integration allows credit union members to make omni-channel payments through online portals, text, mobile, and IVR, with real-time updates on loan and payment information. Enhanced security measures, such as payment tokenization and encryption, are also part of this offering.

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Repay Holdings (NASDAQ: RPAY) reported a 9% growth in gross profit and 11% organic gross profit growth in Q1 2024. Adjusted EBITDA increased by 15%, with net cash provided by operating activities up by 19%. The company's Q1 results showcase a strong start to the year, driven by growth across Consumer and Business Payments verticals. REPAY reiterated its 2024 outlook, expecting an acceleration in free cash flow conversion.

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Repay Holdings (NASDAQ: RPAY) will announce its first quarter 2024 financial results on May 9, 2024. The Company will host a conference call to discuss the results and a press release will be issued after the market closes on the same day. Investors can access the webcast and phone call details on the Company's investor relations website.
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Repay Holdings Corporation (RPAY) reports 2% gross profit growth in Q4 and 6% for the full year 2023, with normalized organic gross profit growth of 13% in Q4 and 13% for the full year. The company also provides an outlook for 2024 with an acceleration in free cash flow conversion.
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FAQ

What services does Repay Holdings Corporation provide?

Repay offers electronic transaction processing services, including credit and debit card processing, gift cards, ACH, bank account verification, electronic bill payment, and instant funding.

How many merchant locations does Repay process transactions for?

Repay processes transactions for over 5,000 merchant locations across all product lines.

What sectors does Repay serve with its payment processing solutions?

Repay serves various verticals with transaction processing needs through its Consumer Payments and Business Payments segments.

How can customers make payments using Repay's services?

Customers can make payments via Mobile App, Text, Interactive Voice Response, Virtual Terminal, Hosted Payment Page, and Online Customer Portal.

What achievements has Repay Holdings Corporation attained?

Repay was ranked #330 on the Inc. 500 list in 2012 as one of the fastest-growing companies in the United States.

When was Repay Holdings Corporation established?

Repay Holdings Corporation was established in 2006.

What is the stock symbol for Repay Holdings Corporation?

The stock symbol for Repay Holdings Corporation is RPAY.

What is the focus of Repay's management team?

Repay’s management team focuses on sales, risk mitigation, merchant support, and leveraging its proprietary software platform.

In which segments does Repay operate?

Repay operates in two segments: Consumer Payments and Business Payments.

Where can I find the latest news about Repay Holdings Corporation?

You can find the latest news about Repay Holdings Corporation on their official website and financial news websites like StockTitan.

Repay Holdings Corporation

Nasdaq:RPAY

RPAY Rankings

RPAY Stock Data

865.54M
95.79M
15.57%
84.77%
1.95%
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