REPAY acquires Payix for up to $115M; upsizes revolver capacity to $185M

Repay Holdings Corp

Purchase price up to $115M: $95M at closing plus up to $20M earnout based on 2022 performance.
Financed with cash on hand and available revolver; net leverage ~3.6x post-transaction, expected below 3.0x by year-end 2022.
Payix expected 2022 revenue >$15M, with gross margins ~65% and adjusted EBITDA margins ~40%.
Acquisition enhances REPAY's position in automotive loan repayment and accelerates BNPL expansion.
Revolver capacity increased from $125M to $185M via credit agreement amendment.

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