Business Context and Reporting Period
This Form 8-K was filed by Repay Holdings Corporation on July 24, 2019. The report addresses a specific regulatory event concerning the listing status of the company's securities on The Nasdaq Stock Market.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current event notification and does not contain financial performance data.
Material Changes
- Warrant Delisting: Nasdaq notified the company that its warrants (trading symbol "RPAYW") failed to meet the minimum requirement of 400 round lot holders for initial listing under Nasdaq Listing Rule 5515(a)(4).
- Delisting Schedule: The warrants are scheduled to be suspended at the opening of business on August 2, 2019, and will be removed from listing and registration on Nasdaq.
- Common Stock Status: The continued listing of the company's Class A common stock (trading symbol "RPAY") is not affected by this action.
Outlook, Management Commentary, and Risks
- Management Action: The company does not intend to appeal Nasdaq's determination regarding the warrants.
- Warrant Terms: The terms of the warrants remain unaffected by the delisting. They may still be exercised in accordance with their terms to purchase shares of Class A common stock.
- Risks: The primary risk identified is the loss of a public trading market for the warrants on Nasdaq, though the underlying value and exercise rights remain intact.
Investor Verification Checklist
- Confirm the suspension date of August 2, 2019, for warrant trading on Nasdaq.
- Verify that the Class A common stock (RPAY) remains listed and trading normally.
- Review the specific terms of the warrants to understand exercise procedures post-delisting.
- Check for the subsequent filing of Form 25-NSE by Nasdaq with the SEC.