---
schema_version: "secwatch.filing_event.v1"
accession: "0001653558-23-000087"
form_type: "8-K"
ticker: "PRTH"
cik: "0001653558"
company_name: "Priority Technology Holdings, Inc."
filed_at: "2023-08-01T23:59:59+00:00"
generated_at: "2026-06-12T18:27:03.208354+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Priority Technology completes acquisition of Plastiq assets for $27.5M cash plus earnout

## Summary
- Closed acquisition of Plastiq Inc. assets after Bankruptcy Court approval on July 27, 2023.
- Cash consideration of $27.5M at closing, plus earnout to Blue Torch and consideration to Colonnade via Side Letter.
- Additional $25M revolving credit commitment (Third Amendment) funded the cash portion; $15M available June 30, $10M at closing.
- Plastiq's bill pay and working capital platform combined with Priority's payments and banking solutions for unified B2B offering.
- Keefe, Bruyette & Woods served as financial advisor; Troutman Pepper as legal advisor to Priority.

## SEC filing metadata
- accession: 0001653558-23-000087
- form_type: 8-K
- ticker: PRTH
- cik: 0001653558
- company_name: Priority Technology Holdings, Inc.
- filed_at: 2023-08-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1653558/000165355823000087/0001653558-23-000087-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1653558/000165355823000087/prth-20230728.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001653558-23-000087
- JSON: https://secwatch.observer/filing/0001653558-23-000087.json
- Plain text: https://secwatch.observer/filing/0001653558-23-000087.txt

## Key facts
- Debt Financings
  Priority Technology Holdings, Inc. amended revolving credit of Additional Revolving Commitment in an aggregate principal amount of $25,000,000, $15,000,000 of which was available imme with Truist Bank at Not specified maturing Not specified.
  - Instrument: revolving credit
  - Principal: Additional Revolving Commitment in an aggregate principal amount of $25,000,000, $15,000,000 of which was available imme
  - Counterparty: Truist Bank
  - Rate: Not specified
  - Maturity: Not specified
  - Event: amendment
  source text: Third Amendment amended the Credit Agreement to, among other things, provide for additional revolving commitments under the Credit Agreement in an aggregate principal amount of $25,000,000 (the “ Additional Revolving Commitment ”), $15,000,000 of which was available immediately upon effectiveness of the Third Amendment. In connection with the consummation of the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1653558/000165355823000087/0001653558-23-000087-index.htm
- M&A Transactions
  Priority Technology Holdings, Inc. completed an acquisition involving Plastiq Inc., PLV Inc., and Nearside Business Corp. for $27,500,000 in cash at the consummation of the Sale (closed 2023-07-31).
  - Action: acquisition
  - Counterparty: Plastiq Inc., PLV Inc., and Nearside Business Corp.
  - Consideration: $27,500,000 in cash at the consummation of the Sale
  - Closing: 2023-07-31
  source text: Purchase Agreement, in addition to the assumption of Liabilities (as defined in the Purchase Agreement), the Purchase Agreement provided for consideration that consisted of: (i) $27,500,000 in cash at the consummation of the Sale (the “ Closing ”); (ii) payment of the consideration to Blue Torch as described in the Earnout Agreement; and (iii) payment of the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1653558/000165355823000087/0001653558-23-000087-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.