ALPHARETTA, Ga.–( BUSINESS WIRE )–Priority Technology Holdings, Inc. (NASDAQ: PRTH) (Priority or the Company), a payment and banking solution that simplifies the collection, storage, lending and sending of money to unlock revenue opportunities, announced today the pricing of a previously announced underwritten secondary offering of 9,070,643 shares of its common stock that will be sold by certain shareholders who sell at $7.75 per share. Certain selling stockholders have granted the underwriters a 30-day option to purchase up to 1,360,596 additional shares of Priority at the public offering price, less discounts and commissions. The sale of common stock is expected to close on January 17, 2025, subject to customary closing conditions.
The selling shareholders will receive all of the net proceeds from the proposed offering. The Company will not sell its common shares in the proposed offer and will not receive proceeds from the sale of the Company’s common shares in the offer.
Keefe, Bruyette & Woods, Stifel Company and TD Cowen are acting as joint lead bookrunners for the offering. B. Riley Securities is acting as book-running manager for the offering, with AGP/Alliance Global Partners (NYSE: ) and Lake Street acting as co-managers.
The offering is being made pursuant to an effective shelf registration statement (including a prospectus) on Form S-3 (File No. 333-283519) previously filed with the Securities and Exchange Commission (SEC). Before investing, interested parties should read the prospectus supplement, accompanying prospectus and other documents filed by the Company with the SEC for information about the Company and this offering. You can obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, a copy of the prospectus supplement and accompanying prospectus may be obtained from any of the following underwriters at: Keefe, Bruyette & Woods, Inc., 787 Seventh Avenue, 4th Floor, New York, NY 10019, Attention: Equity Capital Markets, by telephone at (800) 966-1559 or by email at USCapitalMarkets@kbw.com; TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (855) 495-9846 or by email at TD.ECM_Prospectus@tdsecurities.com; B. Riley Securities, Inc., 1300 17th Street North, Suite 1300, Arlington, VA 22209, by telephone at (703) 312-9580 or by email at Prospectuses@brileyfin.com; AGP/Alliance Global Partners, LLC, 590 Madison Avenue, 28th Floor New York, NY 10022, Attention: Investment Banking, by telephone at (212) 624-2060 or by email at prospectus@allianceg.com; or Lake Street Capital Markets, LLC, 920 Second Avenue South, Suite 700, Minneapolis, MN 55402, by telephone at (612) 326-1305 or by email at prospectus@lakestreetcm.com.
This press release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale or any solicitation of an offer to buy shares of Priority in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualifications under the securities laws of any such state or jurisdiction.
About priority
A priority is payments and banking fintech, which enables companies to collect, store, lend and send funds through a unified trading mechanism. Priority’s platform combines accounts payable, merchant services, and banking and treasury solutions to enable leaders to efficiently direct financial operations,” and Priority’s innovative industry experts help companies navigate and build momentum on their growth path. With the Priority Commerce Engine, leaders can accelerate cash flow, optimize working capital, reduce unnecessary costs and unlock new revenue opportunities.
Forward-looking statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding the completion of the offering and other statements identified by words such as may, will, should, predicts, believes, expects, plans, future, intends, could, estimate, predict, projects, targets, potential or contingent, guidelines, prospects or words of similar meaning. Such forward-looking statements are based on the current beliefs and expectations of Priority’s management and are inherently subject to significant business, economic and competitive risks, trends and uncertainties that could cause actual results to differ materially from those anticipated, expressed or implied by such statements. about the future.
All information provided herein speaks only as of this date in the case of information from Priority or as of the date of such information in the case of information from persons other than Priority, and Priority disclaims any intention or obligation to update any forward-looking statements as a result of events which occurred after the date of this communication.
See the original version on businesswire.com: https://www.businesswire.com/news/home/20250115571776/en/
Contact for investor relations:
Chris Kettmann
chris.kettmann@dgagroup.com
(773) 497-7575
Media contact:
Alison Jones
alison.jones@prth.com
Source: Priority Technology Holdings, Inc.
