REPAY Responds to Veradace Partners and Reaffirms KUBRA Acquisition

Repay Holdings Corporation (RPAY) has issued a formal statement following increased pressure from Veradace Partners, which revealed a beneficial ownership stake of 8.4% in the company's Class A shares. Veradace has formally called for the addition of shareholder representatives to the Board of Directors and urged the board to investigate and abandon the KUBRA transaction. Despite these demands, REPAY’s Board and management reaffirmed their steadfast commitment to the acquisition, emphasizing its role in scaling the company's presence in the bill payments sector. Management defended the deal as being in the long-term interest of shareholders and essential for strengthening its market position. This public disagreement introduces significant uncertainty as investors monitor the conflict between activist demands for governance changes and the company's expansion strategy.