04:50 PM EDT, 07/02/2024 (MT Newswires) -- Repay Holdings ( RPAY ) said late Tuesday that it intends to offer $260 million of convertible senior notes due 2029.

The company also plans to grant initial buyers an option to buy up to an additional $27.5 million of the notes.

The company said it intends to use a portion of the net proceeds to pay the cost of capped call transactions and the rest to purchase a portion of its outstanding convertible senior notes due 2026 and shares of its Class A common stock.

Shares of the company fell nearly 11% in recent after-hours activity.

Price: 9.10, Change: -1.11, Percent Change: -10.87