Veradace Capital Increases Stake in Repay Holdings and Nominates Two Directors

On April 28, 2026, Veradace Capital Management LLC, along with its affiliates Veradace Partners L.P., Alexander Vezendan, and John Conlin, filed an amended Schedule 13D reporting an increased stake in Repay Holdings Corp (RPAY). The reporting group now beneficially owns a combined 7,260,090 shares, representing approximately 8.6% of the company's outstanding Class A common stock. This total includes 7,190,590 shares and options for 110,400 shares held by the Fund, plus 69,500 shares owned directly by Mr. Vezendan. The filing signals a significant shift toward activism. On April 25, 2026, the Fund delivered a formal notice to the Issuer nominating Alexander Vezendan and William Jacobs (CEO of Green Dot Corporation) for election to the Board of Directors at the 2026 Annual Meeting. Veradace is pressuring the Board to waive nomination deadlines, citing material changes in circumstances. The aggregate purchase price for the securities was approximately $31.3 million, funded through working capital and personal savings. All transactions were conducted via open market purchases.