Priority Technology Holdings Expands Market Reach with Offering

Priority Technology Holdings Announces Secondary Offering

Priority Technology Holdings, Inc. (NASDAQ: PRTH) is taking a significant step to enhance its financial capabilities by initiating an underwritten secondary offering of its common stock. This move is aimed at expanding its offerings and streamlining financial operations for their customers.

Understanding the Offering

This new offering involves 9,157,600 shares of common stock, which will be sold by certain stockholders. Additionally, these stockholders will grant underwriters a 30-day option to purchase an additional 1,373,639 shares, which may further increase funds for operational expansion.

Who Will Benefit?

The proceeds from this offering will go entirely to the selling stockholders, while Priority itself will not be selling any of its shares nor receiving any proceeds from the transaction. This strategic choice highlights the confidence that the stockholders have in the future direction of Priority Technology Holdings and their products.

The Role of Underwriters

Prominent financial institutions are taking part in this offering. Keefe, Bruyette & Woods, a Stifel Company, along with TD Cowen, will serve as the lead book-running managers, supported by B. Riley Securities acting as a book-running manager. Additionally, A.G.P./Alliance Global Partners and Lake Street Capital Markets will assist as co-managers.

What Investors Should Know

This offering follows the effective shelf registration statement already filed with the Securities and Exchange Commission (SEC). It indicates Priority's commitment to complying with regulatory standards and keeping investors informed about the intricate details of the offering. Interested parties are encouraged to review the prospectus and other relevant documents available through the SEC.

Due Diligence for Investors

Before making any investment decisions, potential investors should read through all documentation associated with the offering carefully. This review is crucial to understand the potential risks and forecasts as well as the benefits of becoming part of Priority Technology Holdings’ journey.

Overview of Priority Technology Holdings

Priority is at the forefront of fintech innovations, providing seamless payment and banking solutions for businesses. The company enables its clients to effectively manage various financial operations, such as collecting, storing, lending, and transferring funds via a unified commerce engine.

Driving Growth with Innovative Solutions

The Priority Commerce Engine empowers businesses by optimizing cash flow, streamlining working capital management, and minimizing unnecessary expenditures. With expert guidance available, Priority assists companies in identifying and seizing growth opportunities, enhancing their overall operational efficacy.

Conclusion

This secondary offering represents a strategic maneuver by Priority Technology Holdings, highlighting both the company's healthy market position and the commitment to innovative financial solutions. As this initiative unfolds, stakeholders can anticipate advancements and improvements within the fintech landscape, benefiting from the capabilities offered by Priority.

Frequently Asked Questions

What is the main purpose of Priority's offering?

The offering aims to facilitate selling stockholders while enhancing financial capabilities and solutions offered by Priority Technology Holdings.

Who are the main underwriters for this offering?

Keefe, Bruyette & Woods and TD Cowen are the lead underwriters, with support from B. Riley Securities and co-managers including A.G.P./Alliance Global Partners and Lake Street.

Can investors expect a return on investment?

Investors should conduct thorough research and consider the company's growth potential, although actual returns can vary significantly based on market conditions.

What kind of financial solutions does Priority provide?

Priority offers a range of financial solutions that include payment processing, banking services, lending, and treasury management through their unified commerce engine.

Where can I find more information about the offering?

Interested investors can find detailed information in the prospectus filed with the SEC and should review all related documents before investing.

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