Forager Fund boosts Repay Holdings (RPAY) stake with 950k-share buy
Filing Impact
Filing Sentiment
Form Type
4/A
Rhea-AI Filing Summary
Repay Holdings Corp large shareholder Forager Fund, L.P., together with related reporting persons, amended a prior insider filing to show that they bought, rather than sold, shares of Class A common stock. On April 1, they made open-market purchases of 488,391 shares at a weighted average price of $2.54 per share, followed on April 2 by 461,609 shares at a weighted average price of $2.53 per share. After these transactions, the reporting group held 10,192,937 shares of Class A common stock, with 100 shares held directly by Forager Capital Management, LLC and the remainder by Forager Fund, L.P. The filing notes that prices reflect weighted averages over multiple trades in ranges between $2.42–$2.60 and that each reporting person disclaims beneficial ownership beyond their pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 950,000 shares ($2,408,384)
Net Buy
2 txns
Insider
Forager Fund, L.P., Forager Capital Management, LLC, Kissel Edward Urban, MacArthur Robert Symmes
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner
Bought
950,000 shs ($2.41M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Class A Common Stock, $0.0001 par value per share | 461,609 | $2.53 | $1.17M |
| Purchase | Class A Common Stock, $0.0001 par value per share | 488,391 | $2.54 | $1.24M |
Holdings After Transaction:
Class A Common Stock, $0.0001 par value per share — 10,192,937 shares (Direct)
Footnotes (1)
- This Form 4 amendment is being filed solely to correct the acquisition/disposition code for each transaction reported in the Form 4 originally filed by the reporting persons on April 3, 2026 to indicate that the shares of Class A common stock were acquired (A) by the reporting persons rather than disposed of (D) by the reporting persons. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.49 to $2.60, inclusive. The reporting persons undertake to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within this range. Forager Capital Management, LLC (the "General Partner") is the general partner of Forager Fund, L.P., a Delaware limited partnership (the "Fund") and directly holds 100 shares of Class A common stock. All other shares of the issuer's Class A common stock reported herein are directly held by the Fund. Each of Messrs. Kissel and MacArthur is a principal of the General Partner and has shared authority to vote (or direct the vote of), and to dispose (or direct the disposal) of, the shares on behalf of the General Partner. Each of the reporting persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.42 to $2.595, inclusive. The reporting persons undertake to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within this range.
Key Figures
Shares purchased April 1, 2026: 488,391 shares
Shares purchased April 2, 2026: 461,609 shares
Total shares purchased: 950,000 shares
+4 more
7 metrics
Shares purchased April 1, 2026
488,391 shares
Class A Common Stock at $2.54 weighted average price
Shares purchased April 2, 2026
461,609 shares
Class A Common Stock at $2.53 weighted average price
Total shares purchased
950,000 shares
Net open-market buying across two transactions
Holdings after transactions
10,192,937 shares
Total reported Class A holdings following April 2, 2026 buy
April 2 trade price range
$2.49–$2.60
Weighted-average price $2.53 across multiple purchases
April 1 trade price range
$2.42–$2.595
Weighted-average price $2.54 across multiple purchases
Direct holdings of General Partner
100 shares
Class A common stock held by Forager Capital Management, LLC
Key Terms
open-market purchase, weighted average price, beneficial ownership, pecuniary interest, +1 more
5 terms
open-market purchase financial
"transaction_action is described as an open-market purchase of Class A common stock"
An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
beneficial ownership financial
"Each of the reporting persons disclaims beneficial ownership of such shares"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest"
ten percent owner financial
"Forager Fund, L.P. and Forager Capital Management, LLC are each listed as a ten percent owner"
FAQ
What insider activity did Forager Fund report for Repay Holdings (RPAY)?
Forager Fund, L.P. and related reporting persons reported open-market purchases of Repay Holdings Class A common stock on April 1 and 2, 2026. They acquired a total of 950,000 shares, increasing their reported holdings to 10,192,937 shares after these transactions.
Why was this Repay Holdings (RPAY) Form 4/A filed as an amendment?
The Form 4/A was filed to correct the transaction code for the previously reported trades. It clarifies that the Class A common stock was acquired (A) by the reporting persons rather than disposed of (D), changing the interpretation from sales to purchases of shares.
What is Forager Fund’s total reported ownership in Repay Holdings (RPAY) after these trades?
After the April 1–2, 2026 purchases, the reporting group’s total reported holdings increased to 10,192,937 shares of Repay Holdings Class A common stock. Of this amount, Forager Capital Management, LLC directly holds 100 shares, with the remainder held directly by Forager Fund, L.P.
Were the reported Repay Holdings (RPAY) purchase prices single trades or averages?
The reported prices are weighted averages rather than single-trade prices. The April 2 purchases occurred in multiple trades between $2.49–$2.60, and the April 1 purchases between $2.42–$2.595. The reporting persons offered to provide detailed trade-level pricing upon request.