Repay confirmed receipt of the updated proposal on Monday, stating that its board will evaluate the terms alongside financial and legal counsel. Forager contends that the new price offers a 91% premium over the company’s 30-day volume-weighted average of $2.75, calculated at the time of their initial approach. The investment firm maintains that further value remains locked within the business, provided they are granted the customary oversight required to complete a thorough review.

Investors reacted sharply to the news, driving Repay shares up 21% to $4.32 during Monday’s afternoon session. This latest bump adds to an 18% climb for the stock over the course of the year, signaling growing market anticipation regarding the board's eventual response to the increased cash offer.