Repay Holdings Corporation (NASDAQ: RPAY) has just announced the closing of an undrawn $250 million senior secured revolving credit facility, renewing and expanding its prior undrawn $185 million senior secured revolving credit facility. This move is intended to provide Repay with financial flexibility to continue focusing on profitable growth and cash generation.
John Morris, Co-Founder and CEO of Repay, stated that the extension and upsizing of the revolving credit facility, along with the recently completed convertible notes offering, will provide the company with the necessary financial resources to pursue its strategic objectives.
Truist Securities, Inc. acted as the lead arranger, and Truist Bank will serve as the administrative agent for the revolving credit facility.
This news comes as Repay provides integrated payment processing solutions to specific verticals, utilizing its proprietary integrated payment technology platform to simplify electronic payments for clients and enhance the overall experience for consumers and businesses. As a result of these announcements, the company's shares have moved 3.5% on the market, and are now trading at a price of $9.49. Check out the company's full 8-K submission here.
