Priority Technology Holdings, Inc. (NASDAQ: PRTH) has announced the pricing of a secondary offering of 9,070,643 shares of its common stock. The shares are to be sold by certain selling stockholders at $7.75 per share. Additionally, the underwriters have been granted a 30-day option to purchase up to 1,360,596 additional shares at the same price. The offering is expected to close on January 17, 2025.
The company will not receive any proceeds from the sale of shares in the offering, with all net proceeds going to the selling stockholders. Keefe, Bruyette & Woods, a Stifel company, and TD Cowen are acting as joint lead book-running managers for the offering, with B. Riley Securities as a book-running manager, and A.G.P./Alliance Global Partners and Lake Street as co-managers.
The offering is being made pursuant to an effective shelf registration statement on Form S-3 (file no. 333-283519) previously filed with the SEC. Interested parties are advised to read the prospectus supplement and accompanying prospectus for more information about the company and the offering.
Priority Technology Holdings, Inc. is a payments and banking fintech that enables businesses to collect, store, lend, and send funds through a unified commerce engine. With its platform, Priority combines payables, merchant services, and banking and treasury solutions to streamline financial operations efficiently.
For further information, the investor relations contact is Chris Kettmann at [email protected] and the media contact is Alison Jones at [email protected]. Today the company's shares have moved 2.8% to a price of $8.9. Check out the company's full 8-K submission here.
