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Priority Technology Holdings Inc (PRTH) delivers innovative payment processing solutions and AP automation platforms for businesses across multiple sectors. This news hub provides investors and industry professionals with timely updates on corporate developments, strategic partnerships, and technological advancements in merchant acquiring services.
Access official press releases and curated news coverage spanning earnings reports, product launches, and market expansion initiatives. Our repository simplifies tracking PRTH's progress in commercial payments, SMB solutions, and enterprise-level financial automation technologies.
Discover updates across key operational areas including MX suite enhancements, CPX platform capabilities, and embedded treasury solutions. The collection serves as a strategic resource for understanding the company's role in shaping payment ecosystems through secure transaction processing and workflow optimization.
Bookmark this page for streamlined access to Priority Technology's latest announcements. Regularly updated content helps stakeholders monitor the company's performance in financial technology innovation and competitive positioning within payment processing markets.
Priority Technology Holdings (NASDAQ: PRTH) announced the successful completion of a debt refinancing, involving the repayment of approximately $170 million in preferred equity and reducing the cost of outstanding debt by 100 basis points.
The refinance included issuing a new $835 million term loan and setting up a new $70 million revolving line of credit.
The proceeds refinanced the existing $653 million term loan due April 2027, leaving $110 million in preferred equity outstanding.
The expected net leverage ratio post-transaction is approximately 4.5x.
This refinancing is anticipated to increase free cash flow by over $5.5 million and net income available to common shareholders by nearly $20 million annually.
The new debt arrangement extends the term loan maturity to May 2031, providing flexibility to execute on the company's Unified Commerce vision and deliver strong shareholder value.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) reported strong first quarter 2024 financial results with revenue of $205.7 million, an 11.2% increase from the previous year. Adjusted gross profit rose to $76.4 million, up 21.2%, and operating income increased by 66.3% to $28.0 million. The company reaffirmed its full-year 2024 guidance with revenue expected to range between $875 million to $890 million and adjusted EBITDA between $193 million to $198 million.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) will release its first quarter 2024 financial results on Thursday, May 9, 2024, followed by a conference call to review financial and operating results. The company operates at scale with 860,000 active customers and processes $120 billion in annual transaction volume.
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