secwatch.observer — SEC 8-K summary
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Issuer:     Repay Holdings Corp (RPAY)
CIK:        0001720592
Form:       8-K
Filed at:   2022-01-03T23:59:59+00:00
Accession:  0001564590-22-000022
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1720592/000156459022000022/0001564590-22-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1720592/000156459022000022/rpay-8k_20211229.htm
  HTML page:      https://secwatch.observer/filing/0001564590-22-000022

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