RPAY News & Events

The major averages finished broadly higher as investors await news out of the Middle East. President Trump said the U.S. and Iran will meet to negotiate after days of strikes as the market shifts focus from geopolitics back toward macro data. Investors are watching labor market releases, including the JOLTS report and Thursday's payroll report, for clues on the Federal Reserve path. Markets continue to weigh a resilient economy against concerns that sticky inflation could keep the Fed more restrictive than expected.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SpaceXwillon July 7Comcastplans to separate intothrough a tax-free spin-off of NBCUniversal and SkySpaceXand Charterhave discussed partnering on a mobile phone offering,Verizonand BT Groupwilland combine international operationsRocket LabIridiumfor $54 per share in a cash and stock transaction2. WALL STREET CALLS:Robloxto Buy at AreteAdobeto Neutral at Phillip SecuritiesDoximityto Underperform from Buy at BofAQuantinuumwith mostly Buy or equivalent ratings as Wall Street rolled out coverageCoverage of Liftoff Mobilewas alsowith mostly bullish ratings3. AROUND THE WEB:Carlislehas made unsolicited offers for Owens Corning, WSJ reportsEli Lillyand Regeneronare among the first selections for the FDA's PreCheck program, CNBC reportsAmazoncould pay more for Anthropic's technology, The Information reportsIntelis gaining momentum from the AI boom and new partnerships with Nvidia, Apple, and Elon Musk's Terafab project, but its long-term future depends on proving its new 14A manufacturing process can succeed and help restore U.S. chip production, New York Times reportsSamsungand SK Hynix intend to invest over $500B in a new chip-making hub in South Korea, WSJ says4. MOVERS:Repay Holdingsincreases after Forager Fundthe company for $5.25 per shareFuelCellgains after B. Rileythe stock to BuyPalisade Biohigher afterto start its ulcerative colitis studyEvommunelower after Phase 2b trial of EVO756Larimar Therapeuticsfalls afterof its rolling BLA for nomlabofusp5. EARNINGS/GUIDANCE:GameStopprovidedPerfect Moment, with EPS and revenue higher year-over-yearKolibri Global EnergyprovidedNiketoon June 30Constellation Brandstoon June 30INDEXES:The Dow rose 306.63, or 0.59%, to 52,182.74, the Nasdaq gained 522.53, or 2.07%, to 25,820.15, and the S&P 500 advanced 86.41, or 1.18%, to 7,440.43.

Repay Holdings confirmed receipt of a "revised unsolicited, non-binding proposal" from Forager Capital Management to acquire the outstanding shares of the company for $5.25 per share in cash. Repay's board will review the proposal in consultation with the company's financial and legal advisors, the company said in a statement. J.P. Morgan is serving as financial advisor to Repay.

The major averages were broadly higher near noon as investors await news out of the Middle East after President Trump said the U.S. and Iran will meet to negotiate after days of strikes. Oil prices are up again amid renewed tensions, though are still well below where they were just weeks ago.The key theme this week is shifting from geopolitics back toward macro data. Investors are watching labor market releases, including the JOLTS report and Thursday's payroll report, for clues on the Federal Reserve path. Markets continue to weigh a resilient economy against concerns that sticky inflation could keep the Fed more restrictive than expected.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SpaceXwillon July 7Comcastplans to separate intothrough a tax-free spin-off of NBCUniversal and SkySpaceXand Charterhave discussed partnering on a mobile phone offering,Verizonand BT Groupwilland combine international operationsRocket LabIridiumfor $54 per share in a cash and stock transaction2. WALL STREET CALLS:Robloxto Buy at AreteAdobeto Neutral at Phillip SecuritiesDoximityto Underperform from Buy at BofAQuantinuumwith mostly Buy or equivalent ratings as Wall Street rolled out coverageCoverage of Liftoff Mobilewas alsowith mostly bullish ratings3. AROUND THE WEB:Salesforceemployees are concerned that Anthropic's Claude Tag could undermine Slackbot and strengthen Anthropic's influence within the enterprise software market, The Information saysIntelis gaining momentum from the AI boom and new partnerships with Nvidia, Apple, and Elon Musk's Terafab project, but its long-term future depends on proving its new 14A manufacturing process can succeed and help restore U.S. chip production, New York Times reportsSamsungand SK Hynix intend to invest over $500B in a new chip-making hub in South Korea, WSJ saysVolkswagenintends to end its automated driving partnership with Bosch as part of its efforts to cut costs and boost competitiveness, Reuters reportsMetahas imposed strict limits on applied AI staff use of external coding tools like Claude Code and Codex due to concerns about inadvertent model distillation, The Information says4. MOVERS:Repay Holdingsincreases after Forager Fund offered tofor $5.25 per shareFuelCellgains after B. Rileythe stock to BuyPalisade Biohigher afterto start its ulcerative colitis studyEvommunelower after Phase 2b trial ofits primary endpointLarimar Therapeuticsfalls afterof its rolling BLA for nomlabofusp5. EARNINGS/GUIDANCE:GameStopPerfect Moment, with EPS and revenue higher year-over-yearKolibri Global EnergyNikeon June 30Constellation Brandson June 30INDEXES:Near midday, the Dow was up 0.44%, or 230.00, to 52,106.11, the Nasdaq was up 1.34%, or 339.82, to 25,637.44, and the S&P 500 was up 0.75%, or 55.11, to 7,409.13.

Forager Capital Management, the largest shareholder of Repay Holdings, with beneficial ownership of approximately 13% of the issued and outstanding shares, delivered an updated proposal to the company's board of directors to acquire the company for $5.25 per share in cash following recent discussions with the company. The company said, "We appreciate the Chairman taking the time to meet in person and found the discussion productive. We continue to believe that stockholders are best served by moving beyond an initial discussion and beginning substantive dialogue regarding valuation, confirmatory due diligence, and transaction structure. Our increased price reflects our continued conviction in the value of Repay and our belief that the Board's initial step deserved a constructive response. Our proposal nevertheless remains based solely on publicly available information. We are confident we could identify additional value if we are permitted customary access to management and are allowed to complete confirmatory due diligence. We are pleased to propose acquiring 100% of the outstanding shares of Common Stock of the Company at a price of $5.25 per share in cash. The proposed $5.25 per share price represents a 91% premium to the Company's unaffected 30-day volume-weighted average price of $2.75 at the time of our original proposal and provides stockholders with certain cash value today. Given our ownership position and applicable disclosure obligations, we must publicly disclose this letter. We hope this new offer will facilitate constructive discussions with the Board regarding valuation, with the goal of entering into a mutually agreeable transaction that is in the best interest of all stockholders. We believe this is a compelling opportunity for stockholders to realize the full value of their shares in a single, decisive transaction. Our experience with the short-term focus of small cap public markets has led us to believe that the Company will be best equipped to execute its mission as a private entity, removing certain public company costs, responsibilities, obligations, and distractions. In the current environment, we believe our proposal offers a clear and immediate path to liquidity and certainty at a compelling premium. This letter is subject to the execution of definitive documentation and the completion of confirmatory due diligence as described below. We have access to sufficient financing to complete the Transaction. The proposal is not subject to a financing condition. We propose that the Transaction be accomplished through a negotiated merger agreement. This proposal is subject only to customary conditions, including receipt of required regulatory approvals and the execution of a definitive merger agreement containing terms and conditions customary for a transaction of this type and size, including existing contractual arrangements. We are committed to moving quickly and efficiently. Because the Company has certain publicly available information, we believe we can conduct confirmatory due diligence simultaneously with negotiating a merger agreement in the coming weeks. So that this process can proceed in an orderly and constructive manner, we are prepared to enter into a customary confidentiality agreement. We have engaged White & Case LLP to advise us on legal matters in connection with the Transaction. We stand ready to meet with the Board and its representatives at the earliest opportunity. We have the financial capacity and a demonstrated track record of closing transactions of this nature swiftly and with a high degree of certainty. Most recently, we successfully completed the acquisition of Quipt Home Medical, a publicly listed company for approximately $260 million. That transaction closed on schedule and without complication. We are highly confident in our ability to bring this Transaction to a successful close on an accelerated timeframe, and we are willing to commit extensive resources to do so. We strongly believe that our proposal is in the best interests of stockholders, and we believe that the Company's employees, vendors, and customers will benefit from the significant growth opportunities we can provide. We look forward to working constructively with the Board to accomplish the proposed Transaction in the best interest of all stockholders."