Priority Acquires Boom Commerce Assets, Secures $50mln Financing Facility.

• Priority Technology Holdings acquires Boom Commerce assets for $50 million. • Boom Commerce revenue agreements and customer relationships transferred. • Sabin Burrell and John Hynes join Priority as CEO and COO, respectively. • $50 million residual financing credit facility secured. • Boosts Priority's direct sales channel and revenue opportunities.

Priority Technology Holdings, Inc. (NASDAQ: PRTH), a leading payments and banking solution provider, has announced the successful acquisition of certain assets of Boom Commerce and the closing of a new $50 million residual financing credit facility. The acquisition is expected to significantly boost Priority's direct sales channel and revenue opportunities.

The acquisition includes the revenue agreements and customer relationships of Boom, an existing reseller partner of Priority. The leadership team of Sabin Burrell, who will serve as CEO, and John Hynes, who will take on the role of COO, will join Priority. The acquisition is expected to provide approximately $5 million of incremental revenue in 2025, with an adjusted EBITDA benefit of almost $6 million due to the reduction in cost of sales from lower third-party residuals [1].

In addition to the acquisition, Priority secured a $50 million delayed draw term loan facility. This facility will finance the purchase of eligible residual receivables and loan receivables, supporting Priority’s continued expansion into alternative financing solutions. The securitization style credit facility is unique for this asset class and further demonstrates Priority's ability to remain at the forefront of the market [2].

The acquisition and financing facility are part of Priority's strategy to optimize its capital structure and provide its ISO and ISV reseller base with incremental capital to accelerate growth and increase the value of their portfolios at Priority. The company's innovative industry experts help businesses navigate and build momentum on the path to growth, enabling leaders to streamline financial operations efficiently and unlock new revenue opportunities [1][2].

References:
[1] https://www.stocktitan.net/news/PRTH/priority-technology-holdings-inc-announces-strategic-asset-5ig8db3bs6eb.html
[2] https://www.marketscreener.com/news/priority-technology-holdings-inc-announces-strategic-asset-acquisition-and-secures-50-million-fin-ce7c51dddf8df52c