Provides management with $ 10,000,000 repurchase authority
ALPHARETTA, Ga., May 16, 2022-(BUSINESS WIRE)-Priority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority” or the “Company”), a leading payment technology company that assists customers in collecting, storing and sending money, today announced that the Board of Directors has approved a share repurchase program in which it allows the Company to repurchase up to $ 10,000,000 worth of shares in its common stock.
“We believe that Priority shares are being sold at very low intrinsic value and that repurchasing Priority shares is a good use of capital at this time. As we continue to focus on pushing strong- on growth, strategic M&A and debt repayment, we believe that repurchasing our shares is another step toward improving shareholder returns, ”said Tom Priore, Priority Chairman and Chief Executive Officer. “The Board’s decision to approve a new share repurchase program demonstrates continued confidence in the strength of our financial position, the sustainability of our business and the endorsement of our sustainability strategy.”
Repurchases can be made at the discretion of management from time to time in the open market, through privately negotiated transactions and through 10b5-1 plans. The repurchase program has no time limit and can be suspended for periods, modified or discontinued at any time. Any portion obtained may be used for the general purpose of the corporation.
About Priority Technology Holdings, Inc.
Priority is a leading provider of merchant acquisition, integrated payment software and commercial payment solutions, offering unique product and service capabilities to a network of merchants and distribution partners. apod. Priority’s business operates from a purpose-built business platform that includes tailored customer service offerings and specialized technology advances, allowing the Company to provide end-to-end solutions. solutions for payment and payment-related opportunities. More information can be found at www.PRTH.com.
This 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, goals, expectations and intentions with respect to future operations, products and services, and other statements identified by words such as “can,” “want,” “must,” “expects,” “believes,” “expects,” “plans,” “future,” “intended,” “possible,” “estimates,” “predictions,” “projects,” “targets,” “potential” or “contingent,” “guide,” “perspective” or words of similar meaning. These anticipated statements include, but are not limited to, our 2022 vision and statements about our market and growth opportunities. Such anticipated statements are based on current beliefs and are expected by our management and are inherently subject to significant business, economic and competition risks, trends and uncertainties that could lead to actual consequences. differ in material from those as planned, stated, or construed as such. forward statements. These forward-looking statements may include, but are not limited to, statements regarding the effects of the COVID-19 pandemic on our revenues and results of financial operations. Our actual results may differ materially, and possibly poorly, from those discussed or implied herein.
We warn that it is very difficult to predict the impact of known factors, and it is impossible for us to anticipate all the factors that will affect our actual outcomes. Everyone looking forward to the statements is obviously qualified in their entirety by these warning statements. You should review all forward-looking statements made in this press release in the context of the risks and uncertainties disclosed in our SEC filings, including our Annual Report on Form 10-K and our Quarterly Report on Form 10-Q filed with the SEC on March 16, 2022 and May 11, 2022, respectively. These filings are available online at www.sec.gov or www.PRTH.com.
We warn you that the important things mentioned above may not include all the things that are important to you. In addition, we cannot assure you that we will be aware of the results or developments we anticipate or anticipate or, even if most are aware, that they will result in the results we anticipate or affect us or our operations in the way we expected. You are warned not to place undue reliance on expected statements as a predictor of future performance. The anticipated statements attached to this press release are made solely as of this date. We have no obligation to publicly update or amend any forwarded statement as a result of new information, upcoming events or otherwise, except as required by law. If we update one or more forward-looking statements, there is no need to say that we will make further updates in relation to those or other anticipated statements. We qualify all of our expected statements through these warning statements.
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