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Repay Holdings to Restate Financials After SEC SPAC Guidance

April 30, 2021, 8:51 PM

Repay Holdings said it will restate its previously issued consolidated financial statements included in the 10-K for the year ended Dec. 31 and the quarterly periods contained therein, after the SEC issued guidance on warrants issued by SPAC-related companies.

  • To account for warrants as liabilities and mark-to-market for each reporting period
  • Sees no impact on non-GAAP operating metrics
  • Expects to recognize incremental non-operating expense between $10m-$20m for the period from July 11, 2019 through Dec. 31, 2019, and incremental non-operating expense between $66m to $76m for the year ended Dec. 31, 2020
  • There were no warrants outstanding after July 27, ...

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