Forager Fund, L.P. 4/A
4/A · Repay Holdings Corp · Filed Apr 10, 2026
Research Summary
AI-generated summary of this filing
Repay (RPAY) 10% Owner Forager Fund Buys 950,000 Shares
What Happened
Forager Fund, L.P. (a reported 10% owner) purchased a total of 950,000 shares of Repay Holdings Corp (RPAY) in two open-market transactions: 488,391 shares on 2026-04-01 at a weighted average price of $2.54 (reported value $1,240,513) and 461,609 shares on 2026-04-02 at a weighted average price of $2.53 (reported value $1,167,871). The combined purchase value reported in the filing is $2,408,384. These were purchases (acquisitions), which investors often view as a more informative signal than routine insider sales.
Key Details
- Transaction dates/prices: Apr 1, 2026 — 488,391 shares @ weighted avg $2.54 (prices ranged $2.49–$2.60); Apr 2, 2026 — 461,609 shares @ weighted avg $2.53 (prices ranged $2.42–$2.595). The filing offers to provide a breakdown of transactions by exact price on request.
- Filing type: This is an AMENDED Form 4 filed 2026-04-10 to correct the transaction codes — the original 4 filed Apr 3, 2026 incorrectly showed dispositions; this amendment clarifies these were acquisitions.
- Shares owned after transaction: Not specified in the amendment. The filing notes the Fund directly holds the reported shares and the General Partner (Forager Capital Management, LLC) directly holds 100 Class A shares.
- Reporting persons: Forager Capital Management, LLC is the General Partner of the Fund; principals Richard Kissel and Ian MacArthur (named in the filing) share voting and disposition authority. Each disclaims beneficial ownership except for any pecuniary interest.
- Timing/timeliness: The original Form 4 was filed Apr 3, 2026 (within the typical two-business-day window for Apr 1 trades); this Apr 10 filing is an amendment to correct reporting, not a late initial report.
Context: These purchases were made by an institutional 10% owner (the Fund), not individual executives; such institutional open-market purchases are informative but do not reveal the fund managers’ specific motives. The amendment solely corrects reporting codes and provides weighted-average price ranges for the multiple executions.
Insider Transaction Report
- Purchase
Class A Common Stock, $0.0001 par value per share
[F2][F1][F3]2026-04-01$2.54/sh+488,391$1,240,513→ 9,731,328 total - Purchase
Class A Common Stock, $0.0001 par value per share
[F4][F1][F3]2026-04-02$2.53/sh+461,609$1,167,871→ 10,192,937 total
Footnotes (4)
- [F1]This Form 4 amendment is being filed solely to correct the acquisition/disposition code for each transaction reported in the Form 4 originally filed by the reporting persons on April 3, 2026 to indicate that the shares of Class A common stock were acquired (A) by the reporting persons rather than disposed of (D) by the reporting persons.
- [F2]The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.49 to $2.60, inclusive. The reporting persons undertake to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within this range.
- [F3]Forager Capital Management, LLC (the "General Partner") is the general partner of Forager Fund, L.P., a Delaware limited partnership (the "Fund") and directly holds 100 shares of Class A common stock. All other shares of the issuer's Class A common stock reported herein are directly held by the Fund. Each of Messrs. Kissel and MacArthur is a principal of the General Partner and has shared authority to vote (or direct the vote of), and to dispose (or direct the disposal) of, the shares on behalf of the General Partner. Each of the reporting persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any.
- [F4]The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.42 to $2.595, inclusive. The reporting persons undertake to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within this range.