Priority Technology Holdings, Inc., Announces Redemption of Preferred Stock and Simplified Capital Structure
Priority Technology Holdings, Inc. (NASDAQ:PRTH) ("Priority" or the "Company"), the payments and banking solution that streamlines collecting, storing, lending and sending money to unlock revenue opportunities, today announced the successful redemption in full of the remaining preferred stock on its balance sheet. The redemption was completed with proceeds from a $115 million increase to its existing term loan due May 2031. The redemption totaled $113.3 million, including accrued but unpaid dividends of $2.6 million.
The redemption of the remaining preferred stock follows Priority's establishment of a new $835 million term loan and concurrent redemption of approximately $170 million of pr
