Priority Technology Holdings redeems preferred stock with $115M term loan amendment

Priority Technology Holdings, Inc.

Amendment No. 1 to Credit Agreement with Truist Bank on Nov 21, 2024 provides $115M incremental term loans.
Proceeds used to redeem 100% of outstanding senior preferred stock for ~$113.3M, including $2.6M accrued dividends.
Net income to common shareholders expected to increase $8.9M annualized, additive to $22M from May 2024 transactions.
CFO Tim O'Leary cited strong growth and lower cost of capital after the redemption.

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