Priority Technology receives non-binding take private bid of $6-$6.15 per share

Priority Technology (PRTH) Holdings announced that it has received a preliminary, non-binding proposal from an investor group led by Thomas Priore, the company’s Chairman and Chief Executive Officer, to acquire the remaining shares of the company’s common stock that the Investor Group does not currently hold, for cash consideration in a range of $6.00 to $6.15 per share. Priore currently holds approximately 58 % of the outstanding shares of the company’s common stock, as disclosed in the company’s Definitive Proxy Statement filed on April 30, the company noted. “There can be no assurance as to whether an agreement relating to any proposed transaction will be reached or as to the terms thereof if an agreement is reached. The Company does not intend to comment further or disclose any developments regarding the Proposal unless and until it deems further disclosure is appropriate or required. The Company’s shareholders do not need to take any action at this time,” the company stated.