Corporate GovernanceApr 14, 2026, 12:50 PM
Repay Holdings Adopts 12.5% Stockholder Rights Plan
AI Summary
Repay Holdings Corporation's Board of Directors adopted a stockholder rights plan on April 13, 2026, declaring a dividend of one preferred share purchase right for each outstanding share of Class A common stock. This "poison pill" plan aims to deter hostile takeovers by imposing significant dilution on any person or group that acquires 12.5% or more of the company's common stock without prior Board approval. The dividend is payable on April 24, 2026, to stockholders of record on the same date, with rights held by an "Acquiring Person" becoming null and void.
Key Highlights
- Board adopted a stockholder rights plan on April 13, 2026.
- One preferred share purchase right declared per Class A common stock share.
- Plan triggers at 12.5% beneficial ownership without Board approval.
- Dividend payable on April 24, 2026.