Ipayment (NASDAQ:IPMT)
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From Oct 2019 to Oct 2024
iPayment, Inc. (NASDAQ: IPMT) today announced the
consummation of the merger among iPayment Holdings, Inc. ("Holdings"),
iPayment MergerCo, Inc. and iPayment, Inc., through which each issued
and outstanding share of iPayment's common stock has been converted
into the right to receive $43.50 in cash without interest (other than
shares of iPayment's common stock held by Holdings or any of its
subsidiaries immediately prior to the effective time of the merger,
shares of iPayment's common stock held by iPayment or any of its
subsidiaries or shares held by iPayment's stockholders who have
perfected their appraisal rights under Delaware law, if any). As a
result of the transaction, iPayment's common stock will cease trading
on the NASDAQ National Market and will be delisted at the close of
business today.
iPayment has appointed the American Stock Transfer & Trust Company
as paying agent for payment of the merger consideration. iPayment
anticipates that the paying agent will contact stockholders soon with
instructions on how to receive payment for their shares. Stockholders
do not need to take any action regarding their shares until contacted
by the paying agent.
iPayment, Inc. is a provider of credit and debit card-based
payment processing services to approximately 140,000 small merchants
across the United States. iPayment's payment processing services
enable merchants to process both traditional card-present, or "swipe,"
transactions, as well as card-not-present transactions, including
transactions over the internet or by mail, fax or telephone.
Information in this press release contains "forward-looking
statements" about iPayment, Inc. These statements involve risks and
uncertainties and are not guarantees of future results, performance or
achievements, and actual results, performance or achievements could
differ materially from the Company's current expectations as a result
of numerous factors, including but not limited to the following:
acquisitions; liability for merchant chargebacks; restrictive
covenants governing the Company's indebtedness; actions taken by its
bank sponsors; migration of merchant portfolios to new bank sponsors;
the Company's reliance on card payment processors and on independent
sales organizations; changes in interchange fees; risks associated
with the unauthorized disclosure of data; imposition of taxes on
Internet transactions; actions by the Company's competitors; and risks
related to the integration of companies and merchant portfolios the
Company has acquired or may acquire. These and other risks are more
fully disclosed in the Company's filings with the U.S. Securities and
Exchange Commission, including without limitation the Company's Annual
Report on Form 10-K for 2005. The Company undertakes no obligation to
revise or update any forward-looking statements in order to reflect
events or circumstances that may arise after the date of this release.