REPAY Rejects Activist Demands, Reaffirms Commitment to KUBRA Acquisition
Summary
Repay Holdings Corp. has publicly rejected activist investor Veradace Partners' call to terminate the KUBRA acquisition, reiterating its commitment to the deal. This statement directly responds to Veradace Partners' letter from April 9th, which urged the company to abandon the strategic acquisition announced on March 30th. REPAY's board and management affirm that the KUBRA acquisition is crucial for enhancing scale and strengthening its position in recurring payment flows, believing it will create long-term shareholder value. This news clarifies the company's firm stance against activist pressure, suggesting the acquisition is likely to proceed as planned, subject to regulatory approvals and financing. Traders should monitor further developments from Veradace Partners and the progress of regulatory approvals.
At the time of this announcement, RPAY was trading at $2.99 on NASDAQ in the Finance sector, with a market capitalization of approximately $263.2M. The 52-week trading range was $2.30 to $6.06. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.