Priority Technology Holdings Announces $1.6 Billion Going-Private Deal
Priority Technology Holdings (PRTH) has announced a going-private transaction valued at approximately $1.6 billion, led by its Chairman and CEO Thomas Priore along with an investor group. The deal involves purchasing all outstanding shares not already owned for $8.05 per share in cash, representing significant premiums over recent closing prices. A special committee of independent directors approved the offer after a rigorous valuation analysis and negotiations that resulted in more than 30% improvement from initial terms. The transaction is backed by equity commitments from Searchlight Capital Partners, which manages $17 billion in assets, and does not depend on external financing conditions. The deal requires regulatory approvals and shareholder approval but is expected to close in the first half of 2027. Upon completion, PRTH will be delisted from Nasdaq. Barclays advised the special committee while TD Securities acted as placement agent for the investor group.
Tickers: $PRTH
Topics: Corporate Governance Mergers & Acquisitions Private Equity