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ALPHARETTA, Ga. - Priority Technology Holdings, Inc. (NASDAQ:PRTH), a payments technology company with annual revenue of $918.56 million, announced Tuesday it has completed the acquisition of certain assets from Boom Commerce and secured a new $50 million residual financing credit facility.
The transaction includes revenue agreements and customer relationships from Boom Commerce, which has been a reseller partner of Priority. Boom’s CEO Sabin Burrell and COO John Hynes will join Priority as part of the deal.
Priority expects the acquisition to generate approximately $5 million in incremental revenue in 2025, with an adjusted EBITDA benefit of nearly $6 million due to reduced cost of sales from lower third-party residuals, according to a company press release.
In addition to the acquisition, Priority has secured a $50 million delayed draw term loan facility to finance the purchase of eligible residual receivables and loan receivables. The company stated this will support its continued expansion into alternative financing solutions.
Tim O’Leary, Chief Financial Officer of Priority, described the new credit facility as having a "securitization style" structure that he believes is "unique for this asset class."
Priority Technology Holdings provides payments and banking solutions that enable businesses to collect, store, lend and send funds through what the company calls a unified commerce engine.
The company’s shares are listed on the Nasdaq under the ticker symbol PRTH.
In other recent news, Priority Technology Holdings Inc. reported strong financial results for the second quarter of 2025. The company posted an earnings per share (EPS) of $0.26, significantly surpassing the forecasted $0.17, marking a 52.94% surprise. Revenue also slightly exceeded expectations, reaching $239.8 million compared to the anticipated $239.63 million. This performance was noted by TD Cowen, which raised its price target for Priority Technology Holdings from $10 to $11 while maintaining a Buy rating. The firm highlighted the company’s effective execution, as evidenced by the revenue, gross profit, and EBITDA exceeding expectations by 0.1%, 1.4%, and 2.8%, respectively. These recent developments underscore Priority Technology’s solid positioning in the market.
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