Latham & Watkins Advises Searchlight Capital Partners on Priority Technology Holdings’ US$1.6 Billion Take-Private Transaction

Priority Technology Holdings, Inc. (Nasdaq: PRTH), the payments and banking solutions provider that streamlines collecting, storing, lending, and sending money to unlock revenue opportunities, announced that it has entered into a definitive agreement with an investor group led by Thomas Priore, the Company's Chairman and Chief Executive Officer, pursuant to which the investor group will acquire all outstanding shares of Priority’s common stock that it does not already own for US$8.05 per share in cash. The all-cash transaction represents an enterprise value of approximately US$1.6 billion. The transaction is being financed, in part, by equity commitments from funds advised by Searchlight Capital Partners, L.P., and is not subject to any financing conditions.

Latham & Watkins LLP represents Searchlight Capital Partners in the transaction with a corporate deal team led by New York partners David Beller and Philip Wolf, with associate Steph Ference. Advice was provided on capital markets and hybrid capital matters by New York partners Stelios Saffos, Global Chair of Latham’s Capital Markets and Hybrid Capital practices, Peter Sluka, Global Co-Chair of Latham's Hybrid Capital Practice, and Salvatore Vanchieri, with associates Adam Weber and Gordon Wilford; on payments regulatory matters by Washington, D.C. partner Barrie VanBrackle, with associate Duey Ho; on tax matters by New York partner Matthew Dewitz; on intellectual property matters by New York partner Steven Betensky; on data privacy and cybersecurity matters by Bay Area partner Robert Blamires, with associate Kathryn Parsons-Reponte; on sanctions matters by Washington, D.C. partner Joseph Bargnesi; on executive compensation and employee benefits matters by Washington, D.C. partner Adam Kestenbaum, with associate Amal Rafiq; and on real estate matters by New York counsel Shira Bressler.