Repay Holdings has received a revised, non-binding proposal from Forager Capital Management to acquire all outstanding shares for $5.25 per share in cash. The unsolicited offer is under review by Repay's Board of Directors, which is consulting with legal and financial advisors to evaluate the proposal in accordance with its fiduciary duties. Stockholders do not need to take any action at this time. JPMorgan Securities is providing financial advice, while Troutman Pepper Locke LLP and Sullivan & Cromwell LLP are serving as legal counsel. Forager Capital Management is an existing stockholder of the payment processing firm.
Repay Holdings CorpRevised acquisition proposal at $5.25 per share, above current trading price, likely to boost stock value.