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Priority Technology Board Backs CEO’s Go-Private Deal at $1.6 Billion Valuation
Payments and banking solution provider Priority Technology Holdings has agreed to be taken private by an investor group led by the company’s chairman and CEO, Thomas Priore, the company said in a Monday (Sept. 21) press release.
Under a definitive agreement announced Monday, the investor group will acquire all outstanding shares of Priority’s stock that it does not already own for $8.05 per share in cash, according to the release.
The transaction is subject to customary closing conditions and is expected to close in the first half of 2027, the release said.
The transaction represents a 38% premium to the company’s closing share price on Sept. 18 and a 65% premium to its closing share price on Nov. 11, 2025, which was the last trading day before public disclosure of the investor group’s preliminary, non-binding proposal to acquire the share, the release said.
The transaction represents an enterprise value of about $1.6 billion, per the release.
A special committee of independent and disinterested directors reviewed the proposal and unanimously recommended it, according to the release.
Michael Passilla, chair of the committee, said in the release: “We believe this is the best path for the unaffiliated stockholders to realize the significant value from their investment in the Company.”
Priore said in the release that the agreement positions Priority Technology Holdings “to achieve our vision for Connected Commerce” and that he is “excited to lead the Company into this promising next chapter.”
Priority announced in November 2025 that it had received a go-private proposal from an investor group led by Priore. At the time, Priore already held about 58% of the outstanding shares of Priority’s stock.
Priority reported in August that its second quarter revenue increased 9% year over year to reach $262.3 million, with growth across its Payables, Treasury Solutions and Merchant Solutions segments. The company reaffirmed its full-year 2026 guidance that includes a year-over-year revenue growth rate of 6% to 9% and a revenue forecast of $1.01 billion to $1.04 billion.
Priority announced in August that it will provide a new ticketing payment process and a treasury orchestration solution to the NFL’s Tampa Bay Buccaneers and that it is preparing to acquire government/utility payment processing company IntelliPay.
Source: PYMNTS.com