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Subsequent Events
6 Months Ended
Jun. 30, 2020
Subsequent Events [Abstract]  
Subsequent events

16. Subsequent events

Management has evaluated subsequent events and their potential effects on these unaudited consolidated financial statements through August 10, 2020, which is the date the unaudited consolidated financial statements were available to be issued.

 

On July 23, 2020, the Company announced the acquisition of cPayPlus, LLC (“cPayPlus”) for up to $16.0 million, of which $8.0 million was paid at closing.

 

On July 27, 2020, the Company completed the redemption of all of its outstanding warrants to purchase shares of the Company’s Class A common stock.  Of the 11.1 million warrants outstanding, as of June 30, 2020, 11.0 million were exercised prior to the redemption on July 27, 2020.  The exercise of these warrants resulted in the issuance of 2.7 million shares of Class A common stock and proceeds of $31.5 million.