Welcome to our dedicated page for Repay Hldgs news (Ticker: RPAY), a resource for investors and traders seeking the latest updates and insights on Repay Hldgs stock.
Repay Holdings Corp (RPAY) delivers innovative payment processing technology for businesses and consumers through its integrated electronic solutions. This dedicated news hub provides investors and industry professionals with direct access to official corporate announcements, financial disclosures, and strategic developments.
Our curated collection features essential updates including quarterly earnings reports, merger & acquisition activity, product launches, and leadership changes. Users gain timely insights into RPAY's evolving position in the competitive fintech landscape, particularly regarding its consumer payment platforms and enterprise transaction solutions.
All content is organized chronologically for efficient tracking of corporate milestones. Key focus areas include developments in mobile payment processing, risk management innovations, and expansion of merchant service offerings. Bookmark this page to maintain current awareness of RPAY's progress in shaping secure, multi-channel transaction ecosystems.
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.
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.
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.
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.
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.
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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