Priority Technology to Go Private in $1.6 Billion Deal

08:00 AM EDT, 09/21/2026 (MT Newswires) -- Priority Technology (PRTH) said Monday an investor group led by Chairman and CEO Thomas Priore agreed to acquire the shares it does not already own in an all-cash deal with an enterprise value of about $1.6 billion. The company said the group will pay $8.05 per share in cash, representing a 38% premium to its last close and a 65% premium to the unaffected share price on Nov. 7, the last trading day before disclosure of the preliminary proposal. Priority's special committee of independent and disinterested directors unanimously recommended the deal after reviewing and negotiating the proposal, the company said. The board approved the transaction and recommended that shareholders vote in favor of it. Priority Technology said the transaction, expected to close in H1 2027, is subject to regulatory approvals and approval by holders of a majority of the company's common shares not affiliated with the investor group. If completed, Priority will become privately held and its shares will be delisted from the Nasdaq Global Select Market, it added.