Priority Technology to go private in $1.6 billion CEO-led deal
U.S. 100 dollar banknotes are seen in this picture illustration taken in Kiev, Ukraine, October 31, 2016. REUTERS/Valentyn Ogirenko/Illustration
Sept 21 : 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 per cent premium to the stock's unaffected price before the initial proposal was disclosed in November 2025.
• The agreed price is more than 30 per cent 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.
