The transaction is sourced from an SEC EDGAR Form 8-K filing published on February 15, 2023. According to the facts provided, the deal's status is pending regulatory approval.
On the financial advisory side, Barclays served as exclusive financial advisor to REPAY, the seller in this divestiture, and is identified as the lead advisor on that side. Berenson & Company served as exclusive financial advisor to PDI, the acquirer, and is also identified as the lead advisor on the acquirer side. Each firm is described in the source material as acting in an exclusive capacity for its respective client.
On the legal side, Troutman Pepper served as legal advisor to REPAY, the target/seller side of the transaction, while Willkie Farr & Gallagher served as legal advisor to PDI, the acquirer.
Beyond confirming that the transaction is structured as a divestiture, no further detail on the specific terms of the sale, such as the consideration structure, is included in the facts available.
Several elements of this deal remain undisclosed. The deal value is explicitly noted as not stated in the source document, and no expected closing date is given. No detail on the form or structure of consideration paid by PDI to REPAY, nor on any regulatory approvals required to close, is provided in the available material.