REPAY Holdings Stock (RPAY): Why The Price Increased Today

By Amit Chowdhry ● Jan 3, 2022
  • The stock price of REPAY Holdings Corp (NASDAQ: RPAY) increased by 6.95% today. This is why it happened.

The stock price of REPAY Holdings Corp (NASDAQ: RPAY) – a leading provider of vertically-integrated payment solutions – increased by 6.95% today. Investors are responding positively to Repay announcing it has acquired Payix for up to $115 million. The deal was financed with cash on hand and available revolver capacity. REPAY also announced the upsizing of its revolver capacity by $60 million, increasing its existing $125 million Revolving Credit Facility to $185 million.

Launched in 2016 and based in Fort Worth, Texas, Payix is a leading omni-channel payment technology platform providing solutions that facilitate payments, data exchange, and communication to support customer service and collection efforts in loan repayment verticals. And Payix’s software supports a wide range of payment options and modalities, and integrates into loan management systems (“LMS”) and dealer management systems (“DMS”) by providing a SaaS approach to collections technology.

KEY QUOTE:

“We are thrilled about the acquisition of Payix, a highly complementary business to REPAY. With its robust and highly flexible technology platform, Payix creates a uniquely positive experience and adds value for both the lender and borrower. Payix also has a strong pipeline and product roadmap, positioning it well for 2022 and beyond. We look forward to welcoming the Payix team into the REPAY family.”

— John Morris, CEO of REPAY

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.