[144] Federated Hermes, Inc. SEC Filing

Rhea-AI Filing Summary

On 31 Jul 2025 Priority Holdings, LLC, a wholly owned subsidiary of Priority Technology Holdings, Inc. (NASDAQ: PRTH), executed Amendment No. 2 to its May 2024 Credit & Guaranty Agreement with Truist Bank and a syndicate of lenders.

The amendment:

• Extends maturities: revolving commitments now mature in 5 years; term loans in 7 years from the effective date.
• Lowers pricing: Applicable Margin set at 3.75 % for SOFR loans, 2.75 % for base-rate loans, and 3.00–3.50 % for revolver draws, tied to total-net-leverage.
• Provides new capital: $50.2 million incremental term loan, $949.8 million refinancing term loan, and $30 million additional revolver capacity.
• Uses proceeds to repay in full all existing initial term loans and cover fees.

Collateral, guarantees and other terms remain substantially the same. A related press release (Ex 99.1) accompanies the filing; the full amendment is included as Ex 10.1.

Insights

Senior Credit Analyst

TL;DR Amendment extends maturities and cuts spreads, modestly improving liquidity and interest expense outlook.

By pushing the revolver to five years and term debt to seven, PRTH removes near-term refinancing risk. The 100–125 bp spread reduction directly lowers annual interest cost on nearly $1 billion of debt, a meaningful cash-flow enhancer. Incremental borrowings are limited ($50 mm term, $30 mm revolver) and largely offset by retiring the prior facility, keeping gross leverage broadly flat. Overall credit profile edges positive, warranting a +1 impact.

Risk & Compliance Specialist

TL;DR Large debt stack remains; covenant reliance shifts to leverage grid but collateral/guarantees unchanged.

Although pricing is lower, PRTH still carries roughly $1 billion of secured term debt, maintaining significant balance-sheet risk if volumes soften. The leverage-based margin grid introduces rate creep should performance falter. No covenant details were disclosed, leaving uncertainty on flexibility. Extension buys time but does not de-risk fundamentally—hence a neutral to slightly positive stance.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	430	21805.30	77560065	08/04/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/01/2025	Restricted stock vesting under a registered plan	Issuer			430	08/01/2025	Not Applicable

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
STEPHEN VAN METER 1001 Liberty Avenue Pittsburgh PA 15222	Common	05/28/2025	5921	250217.90

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What did Priority Technology Holdings (PRTH) announce in its 8-K?

It entered into Amendment No. 2 of its credit agreement, extending maturities, reducing loan spreads and arranging new term and revolving debt.

How much new debt is included in Amendment No. 2?

The deal adds a $50.2 million incremental term loan, a $949.8 million refinancing term loan and $30 million in new revolving commitments.

What are the new interest rate margins for PRTH’s loans?

Margins are 3.75 % for SOFR loans, 2.75 % for base-rate loans and 3.00–3.50 % for revolving loans, based on leverage.

How does the amendment affect PRTH’s debt maturity profile?

Revolver maturity extends to 5 years and term loans to 7 years from the amendment’s effective date, pushing major repayments further out.

What will PRTH do with the refinancing proceeds?

Proceeds will fully repay all outstanding initial term loans and cover associated fees and expenses.