Priority Technology Holdings, Inc. announced that a committee of independent directors has retained Barclays as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel.
The Special Committee is evaluating a preliminary, non-binding proposal by Thomas Priore, the Company's Chairman and Executive Officer.
The aim is to consider the take-private proposal made by an investor group led by Thomas Priore and explore other strategic alternatives.
Special Committee Formation
The independent directors formed a Special Committee to assess the take-private proposal and other strategic options.
Appointment of Advisors
Barclays is the financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is the independent legal counsel for the Special Committee.
Evaluation Process
The Special Committee has not set a definitive timetable for completing its evaluation of the offer or other alternatives.
Forward-Looking Statements
The company advises caution regarding forward-looking statements and the unpredictability of future events and circumstances.
- The retention of Barclays and Paul, Weiss, Rifkind, Wharton & Garrison LLP signifies the seriousness of the evaluation process.
- The decision to form a Special Committee reflects the Company's commitment to considering strategic alternatives and shareholder interests.
Priority Technology Holdings is actively evaluating a take-private proposal and exploring strategic alternatives with the assistance of appointed advisors. The outcome of this evaluation process could have significant implications for the Company and its stakeholders.