Priority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority” or the “Company”), the payments and banking fintech that streamlines collecting, storing, lending, and sending money to unlock revenue opportunities, today announced that its Board of Directors has approved a new $40 million share repurchase program of the Company’s outstanding stock.

"Our new share repurchase program reflects our confidence in Priority's robust business fundamentals and long-term growth potential,” said Tom Priore, Priority's Chairman and Chief Executive Officer. “As we continue to execute on our unified commerce strategy and drive growth across our SMB, B2B, and Enterprise segments, we believe share repurchases represent an effective capital allocation tool that provides a compelling opportunity to enhance shareholder value while maintaining the financial flexibility to invest in strategic growth initiatives."

Under the authorization, the Company may repurchase shares through a variety of methods, including open market transactions and privately negotiated transactions, in compliance with Rule 10b-18 of the Securities Exchange Act of 1934 and other applicable laws and regulations. The timing, manner, and total amount of repurchases will be determined by management based on market conditions, stock price, business performance, and alternative investment opportunities.