Priority Technology to go private in $1.6 billion CEO-led deal

Sept 21 (Reuters) - Payments ‌and ​banking ​solutions provider Priority Technology Holdings said on Monday it had ‌agreed to be taken private by ⁠a group led by Chairman and CEO Thomas ‌Priore in a ‌deal valued at about $1.6 billion.

• The group will pay $8.05 per share in cash ​for those it does not already own, representing a 65% premium ⁠to the stock's unaffected price before the initial proposal ​was disclosed in November 2025.

• The agreed price is more than ​30% above Priore's initial ‌offer of $6 to $6.15 per share.

• Funds advised by Searchlight Capital ⁠Partners have provided equity commitments for the acquisition.

• The transaction was unanimously recommended ⁠by a special committee of independent directors following ​a review conducted with its legal and financial advisers.

• The agreement includes a $15.75 million termination ‌fee for Priority and a $35.25 million reverse-termination fee payable by ‌the buyer.

• The transaction is expected ⁠to close in ‌the first ​half of 2027.

(Reporting by Pragyan Kalita in Bengaluru; Editing by Joyjeet ‌Das)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Capri stock surges on potential buyer interest report
• Zelenskiy says Russia planning new mass attack on Ukraine
• In Cambodia's 'Waiting Village', tattooist mourns trade lost to war