Priority Technology Holdings, Inc. Files Shelf Registration Statement
Priority Technology Holdings, Inc. made a big move recently by filing a shelf registration statement. What does this mean for the company and its investors? Well, let’s break it down.
Priority Technology Holdings, Inc., also known as Priority, is a company focused on payments and banking solutions that make it easier to move money around for businesses. They recently filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC) to register shares of the company’s common stock.
If approved by the SEC, this registration statement will give Priority the ability to offer and sell common stock in the U.S. on a registered basis. This flexibility will be in effect for three years, allowing the company to make offerings when it sees fit. The details of any future offerings, including the types of securities being offered and how the proceeds will be used, will be outlined in a separate prospectus supplement at the time of the offering.
Tom Priore, Chairman and CEO of Priority, explained that this move aligns with the retirement of the company’s preferred shares and will provide them with greater financial flexibility to achieve their long-term goals. This registration will help improve the company’s capital markets liquidity, positioning them to take advantage of opportunities that come their way and create value for their shareholders.
It’s important to note that the registration statement has not yet been approved by the SEC, so no securities can be sold until it is declared effective. This press release is not an offer to sell securities but is meant to provide information on Priority’s plans for the future.
Priority is a payments and banking solution that helps businesses collect, store, lend, and send funds through a unified commerce engine. Their platform combines payables, merchant services, and banking and treasury solutions to streamline financial operations efficiently. By using the Priority Commerce Engine, businesses can speed up cash flow, optimize working capital, reduce costs, and discover new revenue opportunities.
The bottom line is, with this shelf registration statement, Priority Technology Holdings, Inc. is setting itself up for future growth and success. It’s a smart move that will help them navigate the financial landscape and continue to innovate in the world of payments and banking.
