Filing Details

Accession Number:
0001193125-22-040135
Form Type:
13G Filing
Publication Date:
2022-02-13 19:00:00
Filed By:
Stone Point Capital Llc
Company:
Priority Technology Holdings Inc. (NASDAQ:PRTH)
Filing Date:
2022-02-14
SEC Url:
13G Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Trident VII 0 5,193,039 0 5,193,039 5,193,039 6.78%
Trident Finxera Holdings 0 5,193,039 0 5,193,039 5,193,039 6.78%
Trident Finxera Holdings GP 0 5,193,039 0 5,193,039 5,193,039 6.78%
Trident Capital VII 0 5,193,039 0 5,193,039 5,193,039 6.78%
Stone Point Capital 0 5,193,039 0 0 5,193,039 6.78%
Filing

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

 

 

PRIORITY TECHNOLOGY HOLDINGS, INC.

(Name of Issuer)

Common stock, par value $0.001 per share

(Title of Class of Securities)

74275G107

(CUSIP Number)

September 30, 2021

(Date of Event which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed.

☐ Rule 13d-1(b)

☒ Rule 13d-1(c)

☐ Rule 13d-1(d)

The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 74275G107    Page 2 of 13 Pages

SCHEDULE 13G

 

  1    

  NAME OF REPORTING PERSON

 

  Trident VII, L.P.

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3  

  SEC USE ONLY

 

  4  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Cayman Islands

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

   5     

  SOLE VOTING POWER

 

  0

   6   

  SHARED VOTING POWER

 

  5,193,039

   7   

  SOLE DISPOSITIVE POWER

 

  0

   8   

  SHARED DISPOSITIVE POWER

 

  5,193,039

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  5,193,039

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  6.78% (1)

12  

  TYPE OF REPORTING PERSON

 

  PN

 

(1)

Based upon 76,635,141 shares of common stock, par value $0.001 per share (the Common Stock), of Priority Technology Holdings, Inc. (the Issuer) outstanding as of November 9, 2021, as disclosed in the Issuers Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2021, that was filed on November 15, 2021 (the Form 10-Q) by the Issuer with the U.S. Securities and Exchange Commission (the SEC).


CUSIP No. 74275G107    Page 3 of 13 Pages

SCHEDULE 13G

 

  1    

  NAME OF REPORTING PERSON

 

  Trident Finxera Holdings LP

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3  

  SEC USE ONLY

 

  4  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

   5     

  SOLE VOTING POWER

 

  0

   6   

  SHARED VOTING POWER

 

  5,193,039

   7   

  SOLE DISPOSITIVE POWER

 

  0

   8   

  SHARED DISPOSITIVE POWER

 

  5,193,039

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  5,193,039

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  6.78% (1)

12  

  TYPE OF REPORTING PERSON

 

  PN

 

(1)

Based upon 76,635,141 shares of Common Stock outstanding as of November 9, 2021, as disclosed in the Form 10-Q.


CUSIP No. 74275G107    Page 4 of 13 Pages

SCHEDULE 13G

 

  1    

  NAME OF REPORTING PERSON

 

  Trident Finxera Holdings GP LLC

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3  

  SEC USE ONLY

 

  4  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

   5     

  SOLE VOTING POWER

 

  0

   6   

  SHARED VOTING POWER

 

  5,193,039

   7   

  SOLE DISPOSITIVE POWER

 

  0

   8   

  SHARED DISPOSITIVE POWER

 

  5,193,039

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  5,193,039

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  6.78% (1)

12  

  TYPE OF REPORTING PERSON

 

  OO

 

(1)

Based upon 76,635,141 shares of Common Stock outstanding as of November 9, 2021, as disclosed in the Form 10-Q.


CUSIP No. 74275G107    Page 5 of 13 Pages

SCHEDULE 13G

 

  1    

  NAME OF REPORTING PERSON

 

  Trident Capital VII, L.P.

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3  

  SEC USE ONLY

 

  4  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Cayman Islands

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

   5     

  SOLE VOTING POWER

 

  0

   6   

  SHARED VOTING POWER

 

  5,193,039

   7   

  SOLE DISPOSITIVE POWER

 

  0

   8   

  SHARED DISPOSITIVE POWER

 

  5,193,039

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  5,193,039

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  6.78% (1)

12  

  TYPE OF REPORTING PERSON

 

  PN

 

(1)

Based upon 76,635,141 shares of Common Stock outstanding as of November 9, 2021, as disclosed in the Form 10-Q.


CUSIP No. 74275G107    Page 6 of 13 Pages

SCHEDULE 13G

 

  1    

  NAME OF REPORTING PERSON

 

  Stone Point Capital LLC

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3  

  SEC USE ONLY

 

  4  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

   5     

  SOLE VOTING POWER

 

  0

   6   

  SHARED VOTING POWER

 

  5,193,039

   7   

  SOLE DISPOSITIVE POWER

 

  0

   8   

  SHARED DISPOSITIVE POWER

 

  0

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  5,193,039

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  6.78% (1)

12  

  TYPE OF REPORTING PERSON

 

  OO

 

(1)

Based upon 76,635,141 shares of Common Stock outstanding as of November 9, 2021, as disclosed in the Form 10-Q.


CUSIP No. 74275G107    Page 7 of 13 Pages

SCHEDULE 13G

 

ITEM 1.

(a)Name of Issuer:

Priority Technology Holdings, Inc.

 

  (b)

Address of Issuers Principal Executive Offices:

2001 Westside Parkway, Suite 155, Alpharetta, GA 30004

 

ITEM 2.

(a)Name of Person Filing:

This statement is being filed jointly on behalf of each of the following persons (each, a Reporting Person and, collectively, the Reporting Persons):

 

  (i)

Trident Finxera Holdings LP (Holdings LP)

 

  (ii)

Trident Finxera Holdings GP LLC (Holdings GP LLC)

 

  (iii)

Trident VII, L.P. (Trident VII)

 

  (iv)

Trident Capital VII, L.P. (Trident VII GP)

 

  (v)

Stone Point Capital LLC (Stone Point Capital)

 

  (b)

Address of Principal Business Office, or if none, Residence:

The principal address of each of the Reporting Persons is c/o Stone Point Capital LLC, 20 Horseneck Lane, Greenwich, CT 06830.

 

  (c)

Citizenship:

 

  (i)

Holdings LP Delaware

 

  (ii)

Holdings GP LLC Delaware

 

  (iii)

Trident VII Cayman Islands

 

  (iv)

Trident VII GP Cayman Islands

 

  (v)

Stone Point Capital Delaware

 

  (d)

Title of Class of Securities:

Common stock, par value $0.001 per share (the Common Stock)

 

  (e)

CUSIP Number:

74275G107

 

ITEM 3.

IF THIS STATEMENT IS FILED PURSUANT TO §240.13D-1(B) OR 240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:

Not applicable.


CUSIP No. 74275G107    Page 8 of 13 Pages

SCHEDULE 13G

 

ITEM 4.

OWNERSHIP.

The information in items 5 through 9 and item 11 on the cover pages to this Schedule 13G is hereby incorporated by reference.

Holdings LP directly holds 5,193,039 shares of Common Stock. The shares of Common Stock held directly by Holdings LP may be deemed to be beneficially owned by each of Holdings GP LLC, Trident VII, Trident VII GP and Stone Point Capital because (i) Holdings GP LLC is the general partner of Holdings LP, (ii) Trident VII is the managing member of Holdings GP LLC, (iii) Trident VII GP is the general partner of Trident VII and (iv) Stone Point Capital is the investment manager of Trident VII. Each of the Reporting Persons (other than Holdings LP), and each of their affiliated entities and the officers, members and managers thereof, disclaims beneficial ownership of these securities.

Pursuant to certain management agreements, Stone Point Capital has received delegated authority by Trident VII GP relating to Trident VII, provided that the delegated discretion to exercise voting rights may not be exercised on behalf of Trident VII without first receiving direction from the Investment Committee of Trident VII GP. The management agreements do not delegate any power with respect to the disposition of Common Stock held by Holdings LP.

The shares of Common Stock held directly by Holdings LP are held for the benefit of the limited partners of Holdings LP, which consist of Trident VII, Trident VII Parallel Fund, L.P., Trident VII DE Parallel Fund, L.P. and Trident VII Professionals Fund, L.P. Each of these entities and each of their affiliated entities and the officers, members and managers thereof, disclaims beneficial ownership of these securities.

All calculations of percentage ownership herein are based on an aggregate of 76,635,141 shares of Common Stock outstanding as of November 9, 2021, as disclosed in the Form 10-Q.

 

ITEM 5.

OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

Not Applicable.

 

ITEM 6.

OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

See Item 4.

 

ITEM 7.

IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.

Not Applicable

 

ITEM 8.

IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

Not applicable.

 

ITEM 9.

NOTICE OF DISSOLUTION OF GROUP.

Not Applicable.

 

ITEM 10.CERTIFICATION.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11 of the Exchange Act.


CUSIP No. 74275G107    Page 9 of 13 Pages

SCHEDULE 13G

 

Exhibit Index

 

Exhibit 1.    Joint Filing Agreement as required by Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended.

CUSIP No. 74275G107    Page 10 of 13 Pages

SCHEDULE 13G

 

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: February 14, 2022

 

TRIDENT VII, L.P.
By:   Trident Capital VII, L.P., its sole general partner
By:   DW Trident GP, LLC, a general partner
By:   /s/ Jacqueline Giammarco
  Name: Jacqueline Giammarco
  Title: Vice President
TRIDENT CAPITAL VII, L.P.
By: DW Trident GP, LLC, a general partner
By:   /s/ Jacqueline Giammarco
  Name: Jacqueline Giammarco
  Title: Vice President
TRIDENT FINXERA HOLDINGS GP LLC
By:   Trident VII, L.P., its managing member
By:   Trident Capital VII, L.P., its general partner
By:   DW Trident GP, LLC, a general partner
By:   /s/ Jacqueline Giammarco
  Name: Jacqueline Giammarco
  Title: Vice President
TRIDENT FINXERA HOLDINGS LP
By:   Trident Finxera Holdings GP LLC, its general partner
By:   Trident VII, L.P., its managing member
By:   Trident Capital VII, L.P., its general partner
By:   DW Trident GP, LLC, a general partner
By:   /s/ Jacqueline Giammarco
  Name: Jacqueline Giammarco
  Title: Vice President

CUSIP No. 74275G107    Page 11 of 13 Pages

SCHEDULE 13G

 

STONE POINT CAPITAL LLC
By:   /s/ Jacqueline Giammarco
  Name: Jacqueline Giammarco
  Title: Managing Director and Chief Compliance Officer