Paya Holdings warrant exchange offer

Davis Polk advised the dealer manager and solicitation agent in connection with an offer to exchange outstanding warrants to purchase shares of common stock of Paya Holdings Inc. for shares of common stock of the company and the solicitation of consents from holders of the warrants to amend the warrant agreement to permit the company to require that each warrant outstanding upon the closing of the exchange offer be converted into common stock. A total of 17,378,489 of the public warrants, or approximately 98.4% of the 17,664,945 outstanding public warrants were tendered, each for 0.260 shares of common stock. The settlement of the exchange offer occurred on September 15, 2021.

Based in Atlanta, Georgia, Paya is a leading provider of integrated payment and frictionless commerce solutions that help customers accept and make payments, expedite receipt of money and increase operating efficiencies.

The Davis Polk corporate team included partner Derek Dostal and associates Clare Conroy and Aaron Shubert. The intellectual property and technology transactions team included partner Pritesh P. Shah and associates S. Dream Montgomery and Mikaela Dealissia. The tax team included partner Po Sit and associates Benjamin Helfgott and Bradford Sherman. All members of the Davis Polk team are based in the New York office.