secwatch.observer — SEC 8-K summary
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Issuer:     Priority Technology Holdings, Inc. (PRTH)
CIK:        0001653558
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0001653558-23-000087
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1653558/000165355823000087/0001653558-23-000087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1653558/000165355823000087/prth-20230728.htm
  HTML page:      https://secwatch.observer/filing/0001653558-23-000087

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