Priority acquires Boom Commerce assets for $86.2M plus earnouts; secures $50M residual financing facility

Priority Technology Holdings, Inc.

Acquired Boom's payment processing assets for $73.5M cash, $12.8M in PRTH stock, plus up to $17M earnouts over 4 years.
Deal expected to add ~$5M revenue and ~$6M adjusted EBITDA in 2025; Boom CEO Sabin Burrell and COO John Hynes join Priority.
New $50M delayed draw term loan (expandable to $125M) matures Aug 2031, secured by residual receivables; SOFR + 6.25% with 2% floor.
Proceeds from facility will finance purchase of eligible residual and loan receivables from Originators under a Sale Agreement.
Värde Partners is administrative agent and collateral agent for the credit facility.

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