Repay Holdings Corp. (RPAY) said that it has priced an offering of $260.0 million aggregate principal amount of its convertible senior notes due 2029.
The company granted to the initial purchasers of the Convertible Notes an option to purchase up to an additional $27.5 million aggregate principal amount of the Convertible Notes for settlement within a 13-day period beginning on, and including, the first day on which the Convertible Notes are issued. The offering is expected to close on July 8, 2024, subject to customary closing conditions.
The Company anticipates that the aggregate net proceeds from the offering will be approximately $252.4 million, after deducting the initial purchasers' discounts and commissions and estimated offering expenses payable by the company.
The company plans to use approximately $35.4 million of the net proceeds from the offering to pay the cost of the capped call transactions and to use the remainder of the net proceeds from the offering to purchase a portion of its outstanding convertible senior notes due 2026 and shares of the Company's Class A common stock and for general corporate purposes.
The Convertible Notes will be senior unsecured obligations of the Company and will accrue interest at a rate of 2.875% per annum, payable semi-annually in arrears on January 15 and July 15 of each year, beginning on January 15, 2025. The Convertible Notes will mature on July 15, 2029, unless earlier repurchased, redeemed or converted.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.