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, ...