Paysign repurchases 200K shares from former director at ~$666K, 90% of VWAP

Paysign, Inc.

Repurchased 200,000 shares from former director Daniel Spence at 90% of 10-day VWAP; total price $666,018.
Agreement includes a right of first refusal on any future transfers by Spence.
Spence granted irrevocable proxy to CEO, General Counsel, and CFO to vote his remaining shares.
One-year standstill provision prohibits Spence from acquiring additional company shares.
Company paid using available cash; shares retired or held as treasury.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Paysign, Inc. entered into Stock Repurchase Agreement with Daniel H. Spence valued at $666,018.00 for 200,000 shares of common stock (effective 2023-03-23).

Action: entry
Agreement: equity purchase
Counterparty: Daniel H. Spence
Value: $666,018.00 for 200,000 shares of common stock
Effective: 2023-03-23

Exact text from the filing

On March 23, 2023, we entered into a stock repurchase agreement (the “Stock Repurchase Agreement”) with Daniel H. Spence, a former director of our company, pursuant to which we repurchased 200,000 shares of common stock held by Mr. Spence (the “Repurchase”).

View on SEC.gov

Browse all material agreements →

Paysign, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-001818

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.