Press release
Priority Technology Holdings, Inc. Board of Directors Approves Share Repurchase Program
Provides management with $10,000,000 share repurchase authority ALPHARETTA, Ga.--(BUSINESS WIRE)-- Priority Technology Holdings, Inc. (NASDAQ: PRTH)
About this update from Priority Technology Holdings, Inc.
[{"type":"text","content":"\nProvides management with $10,000,000 share repurchase authority\n\n ALPHARETTA, Ga.--(BUSINESS WIRE)--\nPriority Technology Holdings, Inc. (NASDAQ: PRTH) (\"Priority\" or the \"Company\"), a leading payments technology company helping customers collect, store and send money, today announced that its Board of Directors approved a share repurchase program under which it authorized the Company to repurchase up to $10,000,000 worth of shares of its common stock.\n\n“We believe that Priority shares are trading well below intrinsic value and that repurchasing shares of Priority is a good use of capital at this time. While we continue to focus on driving solid growth, strategic M&A and paying down debt, we believe that repurchasing our shares is another step towards improving shareholder returns,” said Tom Priore, Priority Chairman and Chief Executive Officer. “The Board’s decision to approve a new share repurchase program reflects continued confidence in the strength of our financial position, the sustainability of our business and the endorsement of our strategy moving forward.”\n\nRepurchases may be made at management’s discretion from time to time on the open market, through privately negotiated transactions and through 10b5-1 plans. The repurchase program has no time limit and may be suspended for periods, amended or discontinued at any time. Any shares acquired will be available for general corporate purposes.\n\nAbout Priority Technology Holdings, Inc.\n\nPriority is a leading provider of merchant acquiring, integrated payment software and commercial payment solutions, offering unique product and service capabilities to its merchant network and distribution partners. Priority’s enterprise operates from a purpose-built business platform that includes tailored customer service offerings and bespoke technology development, allowing the Company to provide end-to-end solutions for payment and payment-adjacent opportunities. Additional information can be found at www.PRTH.com.\n\nForward-Looking Statements\n\nThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, prod...