secwatch.observer — SEC 8-K summary
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Issuer:     Repay Holdings Corp (RPAY)
CIK:        0001720592
Form:       8-K
Filed at:   2024-07-08T23:59:59+00:00
Accession:  0000950170-24-082154
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Repay closes $287.5M convertible note offering, repurchases $220M of 2026 notes and 3.9M shares
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- Issued $287.5M of 2.875% convertible senior notes due 2029 (including full greenshoe); initial conversion price ~$13.02 per share.
- Used ~$200M of net proceeds plus $5.1M cash to repurchase $220M aggregate principal of outstanding 0.00% convertible notes due 2026.
- Used ~$40M to repurchase ~3.9M shares of Class A common stock at $10.21 per share concurrently with the offering.
- Entered capped call transactions (cost ~$39.2M) with initial cap price of $20.42 to reduce potential dilution upon conversion.
- Net proceeds ~$279.2M; notes are senior unsecured, mature July 15, 2029; redemption not permitted before July 20, 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1720592/000095017024082154/0000950170-24-082154-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1720592/000095017024082154/rpay-20240702.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-082154

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