April 17 (Reuters) - Forager Capital Management:

* FORAGER: PROPOSAL NOT SUBJECT TO A FINANCING CONDITION

* FORAGER CAPITAL MANAGEMENT PROPOSES TO ACQUIRE REPAY

HOLDINGS CORPORATION FOR $4.80 PER SHARE IN CASH

* FORAGER CAPITAL MANAGEMENT: PROPOSES TO BUY REPAY HOLDINGS

FOR $4.80 PER SHARE IN CASH

* FORAGER CAPITAL MANAGEMENT: OWNS ABOUT 13% OF REPAY

HOLDINGS SHARES

* FORAGER: DISAPPOINTED REPAY BOARD'S IMMEDIATE REACTION TO

EXPLORATORY OUTREACH ON POTENTIAL ACQUISITION WAS TO IMPLEMENT

SHAREHOLDER RIGHTS PLAN

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