ATLANTA, April 25, 2019 /PRNewswire/ -- Repay
Holdings, LLC, a leading provider of vertically-integrated payment
solutions, together with its parent, Hawk Parent Holdings LLC
(together, "REPAY"), announced today expansion of its integrated
payment processing services into Canada. REPAY will now offer its suite of
payment processing solutions to the Canadian personal loans and
automotive loans markets. REPAY's expansion into Canada allows Canadian lenders and finance
companies to access REPAY's integrated payment technology platform,
which reduces the complexity of electronic payments for merchants
while enhancing their customers' overall experience.
With REPAY's payment products, merchants can accept payments
anytime, anywhere via consumer-facing online payment portals,
SMS/text pay, IVR/phone pay, and white-labeled mobile apps. The
proprietary payment platform easily integrates with our
clients' enterprise management systems and enables merchants
to simplify and automate their payment and reconciliation
processes. Merchants who use REPAY's payment services will
have access to dedicated implementation teams, 24/7/365
customer service, and professional risk management
resources.
REPAY brings deep industry expertise and an innovative suite of
payment solutions to Canada. "We
combine reliable and secure payment processing with an integrated
technology platform to bring speed and convenience to the debt
repayment process," said John
Morris, CEO of REPAY. "We believe we have an attractive
opportunity to deliver new and exciting payment technology that
brings innovation to the consumer and auto finance markets in
Canada."
The expansion into Canada is a
strategic next step for REPAY. "We have several existing clients
with a presence in the U.S. and Canada," said Shaler
Alias, President of REPAY. "We are thrilled to expand our
footprint and extend our payment technology services to their
Canadian operations. Our customers are excited about the
capabilities the REPAY platform will bring to their operations and
to the entire Canadian market."
REPAY previously announced that it had entered into a merger
agreement with Thunder Bridge Acquisition, Ltd. (NASDAQ: TBRG)
("Thunder Bridge") for a proposed business combination. Completion
of the transactions is subject to approval by the stockholders of
Thunder Bridge and certain other conditions. The transactions are
expected to close in the second quarter of 2019.
About REPAY
REPAY provides integrated payment
processing solutions to verticals that have specific transaction
processing needs. REPAY's proprietary, integrated payment
technology platform reduces the complexity of electronic payments
for merchants, while enhancing the overall experience for
consumers.
About Thunder Bridge Acquisition Ltd.
Thunder Bridge
Acquisition, Ltd. ("Thunder Bridge") is a blank check company
formed for the purpose of effecting a merger, share exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. In June 2018, Thunder Bridge consummated a
$258 million initial public offering
of 25.8 million units, each unit consisting of one of Thunder
Bridge's Class A ordinary shares and one warrant, each warrant
enabling the holder thereof to purchase one Class A ordinary share
at a price of $11.50 per share.
Thunder Bridge's securities are quoted on the NASDAQ stock exchange
under the ticker symbols TBRGU, TBRG, and TBRGW.
Important Information About the Transaction and Where to Find
It
This communication is being made in respect of the
proposed business combination between Thunder Bridge and REPAY. In
connection with the proposed business combination, Thunder Bridge
has filed with the Securities and Exchange Commission ("SEC") a
registration statement on Form S-4, which includes a preliminary
proxy statement/prospectus of Thunder Bridge, and will file other
documents regarding the proposed transaction with the SEC. After
the registration statement is declared effective, Thunder Bridge
will mail the definitive proxy statement/prospectus to its
shareholders. Before making any voting or investment decision,
investors and shareholders of Thunder Bridge are urged to carefully
read the preliminary proxy statement/prospectus, and when they
become available, the definitive proxy statement/prospectus and any
other relevant documents filed with the SEC, as well as any
amendments or supplements to these documents, because they will
contain important information about Thunder Bridge, REPAY and the
proposed business combination. The documents filed by Thunder
Bridge with the SEC may be obtained free of charge at the SEC's
website at www.sec.gov, or by directing a request to Thunder Bridge
Acquisition, Ltd., 9912 Georgetown Pike, Suite D203, Great Falls, Virginia 22066, Attention:
Secretary, (202) 431-0507.
Participants in the Solicitation
Thunder Bridge and
REPAY and certain of their respective directors and executive
officers may be deemed to be participants in the solicitation of
proxies from the shareholders of Thunder Bridge in favor of the
approval of the business combination. Information regarding the
persons who may, under the rules of the SEC, be deemed participants
in the solicitation of the shareholders of Thunder Bridge in
connection with the proposed business combination is set forth in
the preliminary proxy statement/prospectus. Free copies of these
documents may be obtained as described in the preceding
paragraph.
Forward-Looking Statements
This communication
contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
include, but are not limited to, statements about future financial
and operating results, our plans, objectives, expectations and
intentions with respect to future operations, products and
services; and other statements identified by words such as "will
likely result," "are expected to," "will continue," "is
anticipated," "estimated," "believe," "intend," "plan,"
"projection," "outlook" or words of similar meaning. These
forward-looking statements include, but are not limited to,
statements regarding REPAY's industry and market sizes, future
opportunities for Thunder Bridge, REPAY and the combined company,
Thunder Bridge's and REPAY's estimated future results and the
proposed business combination between Thunder Bridge and REPAY,
including the implied enterprise value, the expected transaction
and ownership structure and the likelihood and ability of the
parties to successfully consummate the proposed transaction. Such
forward-looking statements are based upon the current beliefs and
expectations of our management and are inherently subject to
significant business, economic and competitive uncertainties and
contingencies, many of which are difficult to predict and generally
beyond our control. Actual results and the timing of events may
differ materially from the results anticipated in these
forward-looking statements.
In addition to factors previously disclosed in Thunder Bridge's
reports filed with the SEC and those identified elsewhere in this
communication, the following factors, among others, could cause
actual results and the timing of events to differ materially from
the anticipated results or other expectations expressed in the
forward-looking statements: inability to meet the closing
conditions to the business combination, including the occurrence of
any event, change or other circumstances that could give rise to
the termination of the definitive agreement; the inability to
complete the transactions contemplated by the definitive agreement
due to the failure to obtain approval of Thunder Bridge's
shareholders, the inability to consummate the contemplated debt
financing, the failure to achieve the minimum amount of cash
available following any redemptions by Thunder Bridge shareholders
or the failure to meet The Nasdaq Stock Market's listing standards
in connection with the consummation of the contemplated
transactions; costs related to the transactions contemplated by the
definitive agreement; a delay or failure to realize the expected
benefits from the proposed transaction; risks related to disruption
of management time from ongoing business operations due to the
proposed transaction; changes in the payment processing market in
which REPAY competes, including with respect to its competitive
landscape, technology evolution or regulatory changes; changes in
the vertical markets that REPAY targets; risks relating to REPAY's
relationships within the payment ecosystem; risk that REPAY may not
be able to execute its growth strategies, including identifying and
executing acquisitions; risks relating to data security; changes in
accounting policies applicable to REPAY; and the risk that REPAY
may not be able to develop and maintain effective internal
controls.
Actual results, performance or achievements may differ
materially, and potentially adversely, from any projections and
forward-looking statements and the assumptions on which those
forward-looking statements are based. There can be no assurance
that the data contained herein is reflective of future performance
to any degree. You are cautioned not to place undue reliance on
forward-looking statements as a predictor of future performance as
projected financial information and other information are based on
estimates and assumptions that are inherently subject to various
significant risks, uncertainties and other factors, many of which
are beyond our control. All information set forth herein speaks
only as of the date hereof in the case of information about Thunder
Bridge and REPAY or the date of such information in the case of
information from persons other than Thunder Bridge or REPAY, and we
disclaim any intention or obligation to update any forward looking
statements as a result of developments occurring after the date of
this communication. Forecasts and estimates regarding REPAY's
industry and end markets are based on sources we believe to be
reliable, however there can be no assurance these forecasts and
estimates will prove accurate in whole or in part. Annualized, pro
forma, projected and estimated numbers are used for illustrative
purpose only, are not forecasts and may not reflect actual
results.
No Offer or Solicitation
This communication shall not
constitute a solicitation of a proxy, consent or authorization with
respect to any securities or in respect of the transaction. This
communication shall also not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any states or jurisdictions in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction. No offering of securities shall be made except by
means of a prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended, or an exemption therefrom.
Investor Relations Contact:
repayIR@icrinc.com
Media Relations Contact:
Kristen Hoyman
(404) 637-1665
khoyman@repay.com
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SOURCE Repay Holdings, LLC