secwatch.observer — SEC 8-K summary
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Issuer:     Priority Technology Holdings, Inc. (PRTH)
CIK:        0001653558
Form:       8-K
Filed at:   2021-09-21T23:59:59+00:00
Accession:  0001653558-21-000114
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Priority Technology completes acquisition of Finxera; pro forma 2021 revenue $547-570M
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- Total consideration of ~$375M cash and ~7.6M shares of Priority common stock.
- Acquisition funded via $320M delayed draw term loan and $75M preferred stock issuance to Ares.
- Finxera CEO Sanj Goyle and CTO Praveer Kumar to assume prominent roles at Priority.
- Combined pro forma 2021 revenue $547-570M, adjusted EBITDA $131-136M, free cash flow $62-65M.
- Net leverage ratio expected below 4.25x after the transaction.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1653558/000165355821000114/0001653558-21-000114-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1653558/000165355821000114/prth-20210917.htm
  HTML page:      https://secwatch.observer/filing/0001653558-21-000114

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer