Priority Technology Holdings, Inc. (PRTH): debt financing — 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.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Priority Technology Holdings, Inc. incurred credit facility of $50,000,000 with VP Capital, L.P. at SOFR rate plus an Applicable Margin per year, equal to 6.25%, subject to a SOFR maturing August 18, 2031.

Instrument: credit facility
Principal: $50,000,000
Counterparty: VP Capital, L.P.
Rate: SOFR rate plus an Applicable Margin per year, equal to 6.25%, subject to a SOFR
Maturity: August 18, 2031
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a senior secured delayed draw credit facility in an aggregate principal amount of $50,000,000 (the “ DDTL Credit Facility ”)

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10 debt financings filed in the last 30 days. Browse all debt financings →

Priority Technology Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001653558-25-000107

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