Repay Shares Pop On Snapping Payix For ~115M

Repay Holdings Corp RPAY has acquired Payix for ~$115 million. Repay financed the acquisition with cash on hand and available revolver capacity.
Repay also upsized its revolver capacity by $60 million, increasing its existing $125 million revolving credit facility to $185 million.
Payix is a leading omnichannel payment technology platform providing solutions that facilitate payments, data exchange, and communication to support customer service and collection efforts in loan repayment verticals.
"With its robust and highly flexible technology platform, Payix creates a uniquely positive experience and adds value for both the lender and borrower," Repay CEO John Morris said. "Payix also has a strong pipeline and product roadmap, positioning it well for 2022 and beyond."
Repay held $116.5 million in cash and equivalents as of September 30.
Price Action: RPAY shares traded higher by 5.91% at $19.35 on the last check Monday.