Repay tumbles on $260 mln convertible debt deal launch

Repay Holdings

02/07/2024 21:32

** Repay Holding's  RPAY.O  shares down 11.6% at $9.03 in
extended trading as payment solutions provider looks to raise
capital to pay down some debt
    ** Co launches private offering of $260 mln convertible
bonds (CBs) due 2029
    ** It plans to use net proceeds pay for capped calls,
remainder to purchase portion of its outstanding CBs due 2026
    ** RPAY shares on Tues closed down 2.1% at $10.21, giving co
market value of ~$994 mln
    ** Stock up ~20% YTD
    ** Avg rating among 11 brokerages covering RPAY is "buy"
with median PT of $12, per LSEG
    

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))