Forager Capital urges Repay Holdings to engage on acquisition proposa

Forager Capital Management, the largest stockholder of Repay Holdings (RPAY), issued a statement noting that ten days have passed without any substantive communication from the board regarding its all-cash proposal to acquire the company at a 75% premium to the 30-day VWAP at the time of its proposal. “We believe the best way to maximize value for stockholders is prompt and constructive engagement on our proposal,” said Forager Capital Management. “Every day the Board delays both prolongs stockholders’ receipt of cash and reduces their IRR.”