Repay Rejects Forager's Unsolicited Offer

Dow Jones05:55

Repay said it unanimously rejected an unsolicited proposal from Forager Capital Management, a stockholder of the company, to acquire its outstanding shares.

Forager, an Alabama-based hedge fund, offered $5.25 per share in cash. Repay, a financial technology company, said the proposal significantly undervalued the company. Repay had earlier rejected an acquisition proposal from Forager at $4.80 a share.

Repay added its stockholders would be best served by dedicating resources to its strategic plan, which includes integrating Kubra, a customer experience and billing platform acquired by Repay earlier this year, and remaining focused on serving clients.

Since closing the acquisition, Repay has begun introducing Kubra's complementary capabilities to clients and delivering on key operating priorities, the company said.

J.P. Morgan Securities is serving as Repay's financial advisor and Troutman Pepper Locke and Sullivan & Cromwell as its legal counsel.

Write to Grace Yoon at grace.yoon@wsj.com

(END) Dow Jones Newswires

July 13, 2026 17:55 ET (21:55 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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