News & Events zu Priority Technology Holdings Inc (PRTH)PRTHPriority Technology Holdings Inc

Major Averages Rebound as AI Stocks Rise

The major averages were broadly higher to start the week following last week's declines, aided by a rise in AI-related stocks. Intel surged, while AMD hit $1T in market cap. Markets are looking to rebound from the Dow's sharp losses in the previous week, during which it marked its worst performance since March.The top indexes were also buoyed by a sharp drop in oil prices, which have fallen to below $100 per barrel though still remain elevated. The move in oil prices comes despite the latest escalation in hostilities in the Middle East, as Iran-backed Houthis said they attacked Saudi Arabia with missiles and drones over the weekend. Meanwhile, the U.S. State Department warned Americans to reconsider traveling to the region as the U.S. and Iran continue to trade threats to resume combat.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Anthropic now expects its IPO to take place in November, WSJ reportsParamount Skydancehas reached a settlement with California and other states over its proposed acquisition of Warner Bros. Discovery, Bloomberg reportsHP Inc.said its planning assumption is that industry-wide personal computer unit volumes decline roughly mid-single-digits in percentage terms in calendar year 2027Accentureand Anthropic are partnering to establish a team of embedded evaluatorsPriority Technologyreported better-than-expected Q2 results and reaffirmed its FY26 revenue guidance2. WALL STREET CALLS:Cienaupgraded to Outperform at Evercore ISI on sustained growthBNP downgraded Vail Resortson further declines in lift pricingBNP upgraded AT&Twith wireless competition "more rational"Flutterdowngraded to Neutral at Rothschild & Co RedburnArhausupgraded to Buy at Jefferies3. AROUND THE WEB:Volkswagen'sturnaround plan sees 4,000 additional job cuts at Porsche, Reuters reportsNissanis considering increasing its U.S. production with the launch of its 2027 Rogue crossover, Christian Meunier, chairman of Nissan Americas, told CNBCMetahas agreed to give Prospect union direct access to its 5,000 UK employees for the first time, FT reportsStarbuckshas signed a deal to set up a global capability center in the southern Indian city of Chennai and hire roughly 800 technology professionals, Reuters saysThe USPTO and U.S. Copyright Office were surprised by the DOJ's brief supporting OpenAI and Microsoftin their dispute with the New York Times, Axios reports4. MOVERS:New Era Energygains after its subsidiary entered into a 20-year power purchase agreement with Luminant, an affiliate of VistraVista Goldincreases after entering into an agreement with Artemis Gold to be acquired for $2.83 per shareModernahigher after announcing late-breaking data will be presented at ESMO Congress 2026Einridefalls in New York after announcing a collaboration with Nvidiato advance autonomous truckingUPSlower after BofA lowered its price target on the stock5. EARNINGS/GUIDANCE:Novo Nordiskprovided guidance for pipeline sales for 2035Ennisreported Q2 results, with EPS lower year-over-yearZJK Industrialreported results for H1, with CEO Ning Ding commenting it was a period of "strong revenue growth"Turning Point Brandsreaffirmed its outlook for FY26Nuvinireported H1 results, with operating revenue lower year-over-yearINDEXES:Near midday, the Dow was up 238.25, or 0.46%, to 51,920.89, the Nasdaq was up 458.31, or 1.73%, to 26,980.86, and the S&P 500 was up 85.74, or 1.12%, to 7,736.24.

Priority Technology Enters Agreement for $8.05 Per Share Acquisition

Priority Technology Holdings has entered into a definitive agreement with an investor group led by Thomas Priore, the Company's Chairman and CEO, pursuant to which the Investor Group will acquire all outstanding shares of Priority's common stock that it does not already own for $8.05 per share in cash. The all-cash transaction represents an enterprise value of approximately $1.6B. The transaction delivers a 65% premium to the Company's closing share price on November 7, 2025, the last trading day before public disclosure of the Investor Group's preliminary, non-binding proposal to acquire the remaining shares of the Company's common stock that the Investor Group does not currently hold. The transaction represents a 38% premium to the Company's closing share price on September 18, the last trading day prior to the announcement of the definitive agreement. The transaction was unanimously recommended by a special committee of independent and disinterested directors, which conducted a robust review process with the assistance of its independent legal and financial advisors. As previously announced, the Special Committee was established by the Company's Board of Directors to evaluate the Investor Group's Initial Proposal. Following a rigorous valuation analysis and comprehensive review of the Initial Proposal, the Special Committee engaged in extensive negotiations with the Investor Group, including with Mr. Priore, who had informed the Special Committee that he does not intend to sell his stake in the Company to any third party, as disclosed in the Schedule 13D filed in December 2025. The negotiations resulted in improved transaction terms, including a more than 30% price increase, for the benefit of Priority's unaffiliated stockholders. The Board of Directors, having received the unanimous recommendation of the Special Committee, determined that the proposed transaction is in the best interests of the Company and its stockholders. The Board recommends that Priority stockholders vote in favor of the proposed transaction at a special meeting of shareholders that will be held to vote on the transaction. Transaction Details and Approvals Subject to the satisfaction of the conditions set forth in the Agreement, holders of the Company's common stock will receive $8.05 per share in cash at the closing of the transaction. The transaction is being financed, in part, by equity commitments from funds advised by Searchlight Capital Partners, and is not subject to any financing conditions. The transaction is subject to customary closing conditions, including regulatory approvals and approval by the holders of a majority of Priority's common stock that are not affiliated with the Investor Group. The transaction is expected to close in the first half of 2027. Upon completion of the transaction, the Company will be a privately held company, and its common stock will no longer be listed on the Nasdaq Global Select Market.