[SCHEDULE 13G/A] Paymentus Holdings, Inc. SEC Filing

Rhea-AI Filing Summary

Driehaus Capital Management LLC reported beneficial ownership of 2,542,516 shares of Paymentus Holdings, Inc. (PAY), representing 7.23% of the outstanding common stock. The filing states these shares are held in numerous client accounts on a fully discretionary basis and that Driehaus has shared voting and dispositive power over the 2,542,516 shares, with no sole voting or dispositive power. The amendment notes the stake rose to 7.23% as of June 30, 2025, up from 5.87% as of March 31, 2025, crossing the 5% disclosure threshold that requires public reporting of the position.

Positive

• Position increased to a material stake: Driehaus holds 2,542,516 shares, or 7.23%, exceeding the 5% reporting threshold.
• Transparent discretionary holdings: Shares are held in numerous client accounts on a fully discretionary basis and are disclosed with voting/dispositive power.

Negative

• None.

Insights

Securities Analyst

TL;DR: Driehaus increased a disclosed institutional stake to 7.23%, a material position that could draw investor attention to shareholder composition.

Driehaus reports owning 2,542,516 shares of Paymentus common stock, held in discretionary client accounts, with shared voting and dispositive power and no sole control. The stake increased from 5.87% to 7.23% between March and June, which is materially reportable and may shift the known institutional ownership profile. This filing is informational; it does not by itself indicate plans to influence control but does reflect rising institutional interest.

Corporate Governance Expert

TL;DR: Crossing the 5% threshold signals increased institutional ownership; shared voting power may give Driehaus influence in aggregate, though accounts are discretionary.

The statement clarifies that the reported shares are held across numerous client accounts and that, to Driehaus' knowledge, no single client holds more than 5% of the class. Driehaus discloses shared voting and dispositive authority for the full position, which is relevant for governance analysts tracking potential coalition-building or voting blocs. The filing is a routine disclosure of an increased position rather than a corporate-action notice.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Paymentus Holdings, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

70439P108

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 70439P108

1

Names of Reporting Persons

DRIEHAUS CAPITAL MANAGEMENT LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,542,516.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,542,516.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,542,516.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.23 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: This amendment is filed to reflect the change in our percentage of ownership of Paymentus Holdings Inc. (PAY). DCM owned 7.23% of PAY as of June 30, 2025, up from 5.87% as of March 31, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Paymentus Holdings, Inc.
(b)	Address of issuer's principal executive offices: 11605 N. Community House Road, Suite 300, Charlotte, North Carolina, 28277
Item 2.
(a)	Name of person filing: Driehaus Capital Management LLC
(b)	Address or principal business office or, if none, residence: 25 East Erie Street Chicago, Illinois 60611
(c)	Citizenship: USA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 70439P108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2542516
(b)	Percent of class: 7.23 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 2542516
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 2542516
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The shares reported by Driehaus Capital Management LLC (DCM) are held by numerous clients on a fully discretionary basis in accounts managed by DCM. Securities held in these clients' accounts are included in this report to reflect that DCM may have voting power and has dispositive power. To the best of DCM's knowledge, none of the referenced clients have the right to receive dividends or direct proceeds from the sale of interests relating to more than 5% of the class.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

DRIEHAUS CAPITAL MANAGEMENT LLC

Signature:	Janet McWilliams
Name/Title:	Janet McWilliams/General Counsel
Date:	08/14/2025

FAQ

How many Paymentus (PAY) shares does Driehaus own and what percentage is that?

Driehaus reports beneficial ownership of 2,542,516 shares, representing 7.23% of Paymentus common stock.

Did Driehaus' stake in PAY change recently?

Yes. The filing states the stake rose to 7.23% as of June 30, 2025, up from 5.87% as of March 31, 2025.

Does Driehaus have sole voting or dispositive power over the PAY shares?

No. The filing discloses 0 shares with sole voting or dispositive power and 2,542,516 shares with shared voting and dispositive power.

Are the reported PAY shares held for a single client or multiple clients?

The shares are held by numerous clients in accounts managed by Driehaus on a fully discretionary basis; no single client is identified as holding over 5%.

What type of SEC filing reports this disclosure for PAY?

This information is reported in a Schedule 13G/A, an amendment disclosing beneficial ownership by an institutional investor.