Repay Holdings to merge with Thunder Bridge Acquisition
Repay Holdings, together with its parent, Hawk Parent Holdings, and Thunder Bridge Acquisition, announced that they have entered into a definitive merger agreement. Under the terms of the agreement, Thunder Bridge will acquire REPAY and the combined company will continue as a publicly-listed company with an implied enterprise value at closing of approximately $653M, based on current assumptions. Upon the close of the transaction, the company intends to change its name to Repay Holdings Corporation and is expected to continue to trade on The Nasdaq Stock Market under a new ticker symbol. REPAY's management team, led by John Morris, Co-Founder and CEO, Shaler Alias, Co-Founder and President, and Tim Murphy, CFO, will continue to lead the company. REPAY's existing majority equity holder, Corsair Capital, a leading private equity investor in the financial services industry, is expected to remain the company's largest stockholder.