secwatch.observer — SEC 8-K summary
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Issuer:     Repay Holdings Corp (RPAY)
CIK:        0001720592
Form:       8-K
Filed at:   2024-07-11T23:59:59+00:00
Accession:  0000950170-24-082963
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

REPAY closes upsized $250M revolving credit facility, replacing $185M facility
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- New $250M senior secured revolving credit facility is undrawn; replaces prior $185M facility.
- Maturity is the earlier of 5 years, 91 days before 2026 or 2029 convertible notes maturity.
- Interest rate: Term SOFR + 1.75%-2.75% or base rate + 0.75%-1.75%, depending on leverage.
- Covenants: max secured net leverage ratio of 2.0x (2.5x post-acquisition) and min interest coverage 3.0x.
- CEO states the facility provides financial flexibility for profitable growth and cash generation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1720592/000095017024082963/0000950170-24-082963-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1720592/000095017024082963/rpay-20240710.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-082963

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