Priority Technology Holdings Inc
For the period ended Dec 31, 2023. Filed Mar 12, 2024.
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FY2023 · Filed Mar 12, 2024
PRTH$7.900.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Commonly Defined Terms
Commonly Used or Defined Terms
| Term | Definition |
|---|---|
| 2018 Plan | Priority Technology Holdings, Inc. 2018 Equity Incentive Plan |
| 2021 Stock Purchase Plan | Priority Technology Holdings, Inc. 2021 Employee Stock Purchase Plan |
| ACH | Automated clearing house |
| AML | Anti-money laundering |
| AOCI | Accumulated other comprehensive income |
| AP | Accounts payable |
| API | Application program interface |
| APIC | Additional paid-in capital |
| ASC | Accounting Standards Codification |
| ASU | Accounting Standards Update |
| ATI | Adjusted taxable income |
| B2B | Business-to-business |
| B2C | Business-to-consumer |
| BaaS | Banking as a service |
| BSA | Bank Secrecy Act of 1970, as amended by the USA Patriot Act of 2001 |
| CARES Act | Coronavirus Aid, Relief, and Economic Security Act |
| CCPA | California Consumer Protection Act |
| CEO | The Company's Chairman and Chief Executive Officer |
| CFPB | U.S. Consumer Financial Protection Bureau |
| Common Stock | The Company's Common Stock, par value $.001 per share |
| Company | Priority Technology Holdings, Inc., a Delaware corporation, and its direct and indirect subsidiaries |
| Credit Agreement | Credit and Guaranty Agreement dated April 27, 2021, by and among the Loan Parties (as defined therein) and Truist Bank |
| CRM | Customer relationship management |
| Delayed Draw Term Loan | Delayed draw term loan facility under the credit agreement |
| Dodd-Frank Act | Dodd Frank Wall Street Reform and Consumer Protection Act of 2010 |
| EBITDA | Earnings before interest, taxes, depreciation, and amortization |
| Electronic Payments | Payments with credit, debit and prepaid cards |
| EPS | Earnings (loss) per share |
| ESPP | Employee stock purchase plan |
| Exchange Act | Securities Exchange Act of 1934 |
| FASB | Financial Accounting Standards Board |
| FBO | For the benefit of |
| FCRA | Fair Credit Reporting Act |
| Federal Reserve Board | Governors of the Federal Reserve System |
| FDIC | Federal Deposit Insurance Corporation |
| FFIEC | Federal Financial Institutions Examination Council |
| FI | Financial institution |
| FIFO | First in, first out |
| FinCEN | Financial Crimes Enforcement Network |
|---|---|
| Finxera | Finxera Holdings, Inc. |
| FSOC | Financial Stability Oversight Council |
| GAAP | United States Generally Accepted Accounting Principles |
| Initial Term Loan | A senior secured first lien term loan facility in an aggregate principal amount of $300,000,000 |
| IRA | Inflation Reduction Act |
| ISO | Independent sales organization |
| ISV | Independent software vendors |
| IT | Information technology |
| LIBOR | London Interbank Offered Rate |
| LIFO | Last in, first out |
| LLC | Limited Liability Company |
| Nasdaq | National Association of Securities Dealers Automated Quotations |
| NCI | Non-controlling interests |
| OFAC | Office of Foreign Assets Control |
| Passport | Priority Passport |
| PHOT | Priority Hospitality Technology, LLC a Delaware limited liability company |
| PIK | Payment-in-kind |
| POS | Point-of-sale |
| PRET | Priority Real Estate Technology, LLC, a Delaware limited liability company |
| PRTH | The Company's Nasdaq Capital Market trading symbol |
| Redeemable NCI's | Redeemable non-controlling preferred equity interests |
| ROU Asset | Right of use asset |
| RSU | Restricted stock units |
| SaaS | Software as a Service |
| SAR | Stock appreciation rights |
| SEC | United States Securities and Exchange Commission |
| SMB | Small and medium-sized businesses |
| SMS | Short message service |
| SOFR | Secured Overnight Financing Rate |
| Tax Act | The Housing Assistance Tax Act of 2008 |
| TCPA | Federal Telephone Consumer Protection Act of 1991 |
| Term Facility | $620.0 million senior secured term loan facility issued under the Credit Agreement (including $320 million delayed draw facility). |
| Total Net Leverage Ratio | The ratio of consolidated total debt to the Consolidated Adjusted EBITDA (as defined in the Credit Agreement). |
| Truist | Truist Bank |
| TSP | Technology service provider |
| U.S. | United States of America |
| VARs | Value-added resellers |
PART I.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.