Business Wire | Nov 15, 2021 07:00AM EST

Priority Technology Holdings, Inc. Announces Third Quarter 2021 Financial Results

Nov. 15, 2021

ALPHARETTA, Ga.--(BUSINESS WIRE)--Nov. 15, 2021--Priority Technology Holdings, Inc. (NASDAQ: PRTH) ("Priority" or the "Company"), a leading payments technology company building innovative payment solutions that collect, store and send money to power modern commerce, today announced its third quarter 2021 financial results.

Highlights of Consolidated Results

Third Quarter 2021, Compared with Third Quarter 2020

Financial highlights of third quarter 2021 compared with third quarter 2020, are as follows (gross profit, gross profit margin, and adjusted EBITDA are non-GAAP measures1):

* Revenue2 of $132.5 million increased 21.6% from $109.0 million. * Gross profit of $39.7 million increased 16.8% from $34.0 million. * Gross profit margin of 30.0% decreased from 31.2%. * Operating Income of $8.3 million increased 17.2% from $7.0 million. * Net loss of $0.5 million compares with net income of $85.7 million, which included a one-time $94.9 million after tax gain on sale of a business in third quarter 2020. * Diluted loss per share of $0.09 compares with diluted earnings per share of $0.60, which included $0.74 diluted earnings per share from the one-time gain on sale of a business in the third quarter 2020. * Adjusted EBITDA1,3 of $23.6 million increased 20.0% from $19.6 million.

"We delivered exceptional third quarter results, driven by impressive growth in our Consumer segment and strong demand in our Commercial and Integrated Partners businesses," said Tom Priore, Chairman and Chief Executive Officer of Priority. "We now offer an unmatched suite of payment solutions to collect, store and send money on a single technology platform in several strategic, high-growth verticals. Priority is built for the future of payments and is better positioned than ever to deliver long-term value for shareholders."

Updated Full Year 2021 Financial Guidance

The Company has updated its outlook for full year 2021 to include the forecasted post-acquisition contribution from Finxera, as follows:

* Revenue is forecast to range between $500 to $520 million. * Adjusted EBITDA1 (a non-GAAP measure) is forecast to range between $94 to $98 million.

See "Non-GAAP Financial Measures" and the reconciliations of Gross Profit,^ Gross Profit Margin, and Adjusted EBITDA to their most comparable GAAP(1) measures, and the calculation of Total Net Leverage Ratio as of September 30, 2021 provided below for additional information.

Revenue in the third quarter of 2021 includes $3.0 million from the^ Finxera business, acquired on September 17, 2021. Revenue in the third(2) quarter of 2020 includes $3.9 million from the RentPayment business, disposed on September 22, 2020.

Adjusted EBITDA in the third quarter of 2021 includes $2.0 million from^ the Finxera business, acquired on September 17, 2021. Adjusted EBITDA in(3) the third quarter of 2020 includes $2.6 million from the RentPayment business, disposed on September 22, 2020.

Conference Call

Priority's leadership will host a conference call on Monday, November 15, 2021 at 11:00 a.m. EST to discuss its third quarter financial results and business developments. Participants can access the call by Phone: US/Canada: (877) 501-3161 or International: (786) 815-8443.

Internet webcast link and accompanying slide presentation can be accessed at https://edge.media-server.com/mmc/p/jv75rtyj and will also be posted in the Investor Relations section of the Company's website at www.PRTH.com. An audio replay of the call will be available shortly after the conference call until November 18, 2021 at 1:30 pm Eastern Time. To listen to the audio replay, dial (855) 859-2056 or (404) 537-3406 and enter conference ID number 8288381. Alternatively, you may access the webcast replay in the Investor Relations section of the Company's website at www.PRTH.com.

Non-GAAP Financial Measures

This communication includes certain non-GAAP financial measures that we regularly review to evaluate our business and trends, measure our performance, prepare financial projections, allocate resources, and make strategic decisions. We believe these non-GAAP measures help to illustrate the underlying financial and business trends relating to our results of operations and comparability between current and prior periods. We also use these non-GAAP measures to establish and monitor operational goals. However, these non-GAAP measures are not superior to or a substitute for prominent measurements calculated in accordance with GAAP. Rather, the non-GAAP measures are meant to be a complement to understanding measures prepared in accordance with GAAP.

Gross Profit and Gross Profit Margin

The Company's non-GAAP gross profit metric represents revenues less costs of services. Gross profit margin is gross profit divided by revenues. We review these non-GAAP measures to evaluate our underlying profit trends. The reconciliation of gross profit to its most comparable GAAP measure is provided below:

(in thousands)

Three Months Ended September 30,

2021 2020

Revenues $ 132,542 $ 108,962

Costs of Services 92,833 74,971

Gross Profit $ 39,709 $ 33,991



Gross Profit Margin 30.0 % 31.2 %

EBITDA, Adjusted EBITDA and Consolidated Adjusted EBITDA

EBITDA and adjusted EBITDA are performance measures. EBITDA is earnings before interest, income tax, and depreciation and amortization expenses ("EBITDA"). Adjusted EBITDA begins with EBITDA but further excludes certain non-cash costs, such as stock-based compensation and the write-off of the carrying value of investments or other assets, as well as debt extinguishment and modification expenses and other expenses and income items considered non-recurring, such as acquisition integration expenses, certain professional fees, and litigation settlements. Consolidated adjusted EBITDA, which is a liquidity measure used in determining our total net leverage ratio, is adjusted EBITDA further adjusted for items specified in the definition of consolidated adjusted EBITDA within our debt agreements, which include the pro-forma impact of acquisitions and dispositions and other specified adjustments. We review the non-GAAP adjusted EBITDA measure to evaluate our business and trends, measure our performance, prepare financial projections, allocate resources, and make strategic decisions.

We review the non-GAAP consolidated adjusted EBITDA to evaluate compliance with our total net leverage ratio at each measurement period. The reconciliation of adjusted EBITDA to its most comparable GAAP measure is provided below:

(in thousands)

Three Months Ended September 30,

2021 2020

Net loss (GAAP) $ (549 ) $ 40,392

Interest expense 8,155 13,471

Income tax expense 790 13,737

Depreciation and amortization 12,330 10,251

EBITDA (Non-GAAP) 20,726 77,851

Gain on sale of NCIs (62,091 )

Non-cash stock-based compensation 935 601

Selling, general and administrative 1,901 1,751

Debt extinguishment and modification costs - 1,523

Adjusted EBITDA (Non-GAAP) $ 23,562 $ 19,635

Reconciliation of Adjusted EBITDA to Consolidated Adjusted EBITDA for the last twelve months ended September 30, 2021 and the calculation of the Total Net Leverage Ratio at September 30, 2021 are provided below:

Adjusted EBITDA (Non-GAAP) $ 80,812



Other adjustments 1,759

Pro forma impact of acquisitions 65,274

Consolidated Adjusted EBITDA (Non-GAAP) $ 147,845



Consolidated Total Debt at September 30, 2021:

Current portion of long-term debt $ 6,200

Long-term debt, net of current portion 619,957

Unamortized discounts and costs 22,293

648,450

Less unrestricted cash (16,974 )

Consolidated Net Debt $ 631,476



Total Net Leverage Ratio 4.27x

Further detail of certain of these adjustments, and where these items are recorded in our consolidated statements of operations, is provided below:

Three Months Ended September 30,

(in thousands) 2021 2020 Segment



Selling, general and administrative expense:

Litigation settlement recoveries - (801 ) Corporate

Certain legal fees and expenses 932 560 Corporate

Professional, accounting and 383 - Corporateconsulting fees

Acquisition transition services - 1,012 Integrated Partners

Intangible carrying value - 980 Consumeradjustment

Other 586 - Corporate

$ 1,901 $ 1,751



Salary and employee benefit expense:

Non-cash stock-based compensation $ 94 $ 111 Consumer

Non-cash stock-based compensation 16 30 Commercial

Non-cash stock-based compensation 1 2 Integrated Partners

Non-cash stock-based compensation 824 458 Corporate

$ 935 $ 601



Other income, net:

Debt extinguishment and - $ (1,523 ) modification costs

Gain on sale of business - 107,239

Attributable to NCIs - (45,148 )

$ - $ 60,568

Priority does not provide a reconciliation of forward-looking non-GAAP financial measures to their comparable GAAP financial measures because it could not do so without unreasonable effort due to the unavailability of the information needed to calculate reconciling items and due to the variability, complexity and limited visibility of the adjusting items that would be excluded from the non-GAAP financial measures in future periods. When planning, forecasting and analyzing future periods, the Company does so primarily on a non-GAAP basis without preparing a GAAP analysis as that would require estimates for various cash and non-cash reconciling items that would be difficult to predict with reasonable accuracy. For example, stock-based compensation expense would be difficult to estimate because it depends on the Company's future hiring and retention needs, as well as the future fair market value of the Company's common stock, all of which are difficult to predict and subject to constant change. As a result, the Company does not believe that a GAAP reconciliation would provide meaningful supplemental information about the Company's outlook.

About Priority Technology Holdings, Inc.

Priority is a payments powerhouse driving the convergence of payments and banking. The company has built a single platform to collect, store, and send money that operates at scale. We help our customers take and make payments while managing business and consumer operating accounts to monetize payment networks. Our tailored, agile technology powers high-value, payments products bolstered by our industry-leading personalized support. Additional information can be found at www.PRTH.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services, and other statements identified by words such as "may," "will," "should," "anticipates," "believes," "expects," "plans," "future," "intends," "could," "estimate," "predict," "projects," "targeting," "potential" or "contingent," "guidance," "outlook" or words of similar meaning. These forward-looking statements include, but are not limited to, Priority Technology Holdings, Inc.'s ("Priority," "we," "our," or "us") 2021 outlook and statements regarding our market and growth opportunities. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive risks, trends and uncertainties that could cause actual results to differ materially from those projected, expressed, or implied by such forward-looking statements. These forward-looking statements may include, but are not limited to, statements about the effects of the COVID-19 pandemic on our revenues and financial operating results. Our actual results could differ materially, and potentially adversely, from those discussed or implied herein.

We caution that it is very difficult to predict the impact of known factors, and it is impossible for us to anticipate all factors that could affect our actual results. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. You should evaluate all forward-looking statements made in this press release in the context of the risks and uncertainties disclosed in our SEC filings, including our most recent Annual Report on Form 10-K filed with the SEC on March 31, 2021. These filings are available online at www.sec.gov or www.PRTH.com.

We caution you that the important factors referenced above may not contain all of the factors that are important to you. In addition, we cannot assure you that we will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the consequences we anticipate or affect us or our operations in the way we expect. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. If we do update one or more forward-looking statements, no inference should be made that we will make additional updates with respect to those or other forward-looking statements. We qualify all of our forward-looking statements by these cautionary statements.

Priority Technology Holdings, Inc.

Unaudited Condensed Consolidated Statements of Operations

(in thousands, except per Three Months Ended Nine Months Endedshare amounts) September 30, September 30,

2021 2020 2021 2020

Revenue $ 132,542 $ 108,962 $ 370,853 $ 298,251



Operating Expenses

Costs of services 92,833 74,971 264,527 203,733

Salary and employee 11,909 10,010 31,808 29,695 benefits

Depreciation and 12,330 10,251 32,123 30,886 amortization

Selling, general and 7,220 6,688 22,213 19,305 administrative

Total operating expenses 124,292 101,920 350,671 283,619

Operating Income 8,250 7,042 20,182 14,632



Other (expenses) income

Interest expense (8,155 ) (13,471 ) (24,608 ) (35,454 )

Debt extinguishment and - (1,523 ) (8,322 ) (1,899 )modification costs

Gain on sale of business - 107,239 - 107,239

Other income, net 146 190 92 414

Total other (expenses) (8,009 ) 92,435 (32,838 ) 70,300 income, net

Income (loss) before 241 99,477 (12,656 ) 84,932 income taxes

Income tax expense 790 13,737 49 12,919

Net (loss) income (549 ) 85,740 (12,705 ) 72,013

Dividends and accretionattributable to (5,813 ) - (9,724 ) - redeemable seniorpreferred stockholders

Non-controlling interestpreferred unit - - (10,777 ) - redemptions

Less net incomeattributable toredeemable - (45,348 ) - (45,348 )non-controlling interestsand redeemednon-controlling interests

Net (loss) incomeattributable to common $ (6,362 ) $ 40,392 $ (33,206 ) $ 26,665 stockholders





(Loss) earnings per common share:

Basic and diluted $ (0.09 ) $ 0.60 $ (0.48 ) $ 0.40



Weighted-average common shares outstanding:

Basic and diluted 71,979 67,167 69,689 67,114

Priority Technology Holdings, Inc.

Unaudited Condensed Consolidated Balance Sheets

(in thousands)

September 30, 2021

December 31, 2020

Assets

Current assets:

Cash

$

16,974

$

9,241

Restricted cash

17,258

78,879

Accounts receivable, net of allowance

52,651

41,321

Prepaid expenses and other current assets

13,331

3,500

Current portion of notes receivable, net of allowance

152

2,190

Settlement assets and customer account balances

480,315

753

Total current assets

580,681

135,884

Notes receivable, less current portion

3,977

5,527

Property, equipment, and software, net

24,915

22,875

Goodwill

372,702

106,832

Intangible assets, net

346,695

98,057

Deferred income taxes, net

3,462

46,697

Other non-current assets

2,752

1,957

Total assets

$

1,335,184

$

417,829

Liabilities, Redeemable Senior Preferred Stock and Stockholders' Deficit

Current liabilities:

Accounts payable and accrued expenses

$

42,103

$

29,821

Accrued residual commissions

27,984

23,824

Customer deposits and advance payments

3,597

2,883

Current portion of long-term debt

6,200

19,442

Settlement and customer account obligations

489,326

72,878

Total current liabilities

569,210

148,848

Long-term debt, net of current portion, discounts and debt issuance costs

619,957

357,873

Other non-current liabilities

14,111

9,672

Total long-term liabilities

634,068

367,545

Total liabilities

1,203,278

516,393

Senior preferred stock

205,318

-

Stockholders' deficit:

Preferred stock

-

-

Common stock

77

68

Additional paid-in capital

44,640

5,769

Treasury stock, at cost

(3,411

)

(2,388

)

Accumulated deficit

(114,718

)

(102,013

)

Total stockholders' deficit

(73,412

)

(98,564

)

Total liabilities, senior preferred stock and stockholders' deficit

$

1,335,184

$

417,829

Priority Technology Holdings, Inc.

Unaudited Condensed Consolidated Balance Sheets

(in thousands) September 30, December 31, 2021 2020

Assets

Current assets:

Cash $ 16,974 $ 9,241

Restricted cash 17,258 78,879

Accounts receivable, net of allowance 52,651 41,321

Prepaid expenses and other current assets 13,331 3,500

Current portion of notes receivable, net of 152 2,190 allowance

Settlement assets and customer account balances 480,315 753

Total current assets 580,681 135,884



Notes receivable, less current portion 3,977 5,527

Property, equipment, and software, net 24,915 22,875

Goodwill 372,702 106,832

Intangible assets, net 346,695 98,057

Deferred income taxes, net 3,462 46,697

Other non-current assets 2,752 1,957

Total assets $ 1,335,184 $ 417,829



Liabilities, Redeemable Senior Preferred Stock and Stockholders' Deficit

Current liabilities:

Accounts payable and accrued expenses $ 42,103 $ 29,821

Accrued residual commissions 27,984 23,824

Customer deposits and advance payments 3,597 2,883

Current portion of long-term debt 6,200 19,442

Settlement and customer account obligations 489,326 72,878

Total current liabilities 569,210 148,848



Long-term debt, net of current portion, discounts 619,957 357,873 and debt issuance costs

Other non-current liabilities 14,111 9,672

Total long-term liabilities 634,068 367,545



Total liabilities 1,203,278 516,393



Senior preferred stock 205,318 -



Stockholders' deficit:

Preferred stock - -

Common stock 77 68

Additional paid-in capital 44,640 5,769

Treasury stock, at cost (3,411 ) (2,388 )

Accumulated deficit (114,718 ) (102,013 )

Total stockholders' deficit (73,412 ) (98,564 )



Total liabilities, senior preferred stock and $ 1,335,184 $ 417,829 stockholders' deficit

Priority Technology Holdings, Inc.

Unaudited Condensed Consolidated Statements of Cash Flows

(in thousands)

Nine Months Ended September 30,

2021

2020

Cash flows from operating activities:

Net (loss) income

$

(12,705

)

$

72,013

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

Gain and transaction costs recognized on sale of business

-

(111,611

)

Depreciation and amortization of assets

32,123

30,886

Stock-based compensation

2,349

1,627

Amortization of debt issuance costs and discounts

1,607

1,798

Write off of deferred loan costs and discount

2,580

1,523

Deferred income tax (benefit) provision

(160

)

6,695

Payment-in-kind interest

(23,715

)

6,643

Impairment charges for intangible asset

-

980

Other non-cash items, net

(39

)

211

Change in operating assets and liabilities:

Accounts receivable

(10,847

)

(3,962

)

Prepaid expenses and other current assets

(1,947

)

(296

)

Income taxes (receivable) payable

(1,541

)

6,026

Notes receivable

(190

)

(398

)

Accounts payable and other accrued liabilities

9,192

287

Customer deposits and advance payments

713

(1,479

)

Other assets and liabilities, net

13

(512

)

Net cash (used in) provided by operating activities

(2,567

)

10,431

Cash flows from investing activities:

Acquisition of business, net of cash acquired

(407,129

)

-

Proceeds from sale of business

-

179,416

Additions to property, equipment and software

(7,530

)

(6,011

)

Acquisitions of intangible assets

(48,219

)

(4,415

)

Net cash used in (provided by) investing activities

(462,878

)

168,990

Cash flows from financing activities:

Proceeds from issuance of long-term debt, net of issue discount

607,318

-

Debt issuance and modification costs paid

(9,073

)

(2,749

)

Repayments of long-term debt

(359,875

)

(109,505

)

Borrowings under revolving credit facility

30,000

7,000

Repayments under revolving credit facility

-

(7,505

)

Proceeds from issuance of senior preferred equity, net of issue discount

219,062

-

Senior preferred equity issuance fees and costs

(8,098

)

-

Redemption of redeemable non-controlling interest of subsidiary

-

(5,654

)

Repurchases of common stock

(1,023

)

-

Dividends paid to senior preferred stockholders

(4,015

)

-

Profit distributions to redeemable non-controlling interest of subsidiary

(814

)

(45,348

)

Proceeds from exercise of stock options

1,190

-

Settlement and customer accounts obligations, net

396,338

(7,295

)

Net cash provided by (used in) financing activities

871,010

(171,056

)

Net change in cash and cash equivalents, and restricted cash:

Net increase in cash and cash equivalents, and restricted cash

405,565

8,365

Cash and cash equivalents, and restricted cash at beginning of period

88,120

50,465

Cash and cash equivalents, and restricted cash at end of period

$

493,685

$

58,830

Priority Technology Holdings, Inc.

Unaudited Condensed Consolidated Statements of Cash Flows

(in thousands) Nine Months Ended September 30,

2021 2020

Cash flows from operating activities:

Net (loss) income $ (12,705 ) $ 72,013

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

Gain and transaction costs recognized on sale of - (111,611 )business

Depreciation and amortization of assets 32,123 30,886

Stock-based compensation 2,349 1,627

Amortization of debt issuance costs and discounts 1,607 1,798

Write off of deferred loan costs and discount 2,580 1,523

Deferred income tax (benefit) provision (160 ) 6,695

Payment-in-kind interest (23,715 ) 6,643

Impairment charges for intangible asset - 980

Other non-cash items, net (39 ) 211

Change in operating assets and liabilities:

Accounts receivable (10,847 ) (3,962 )

Prepaid expenses and other current assets (1,947 ) (296 )

Income taxes (receivable) payable (1,541 ) 6,026

Notes receivable (190 ) (398 )

Accounts payable and other accrued liabilities 9,192 287

Customer deposits and advance payments 713 (1,479 )

Other assets and liabilities, net 13 (512 )

Net cash (used in) provided by operating activities (2,567 ) 10,431



Cash flows from investing activities:

Acquisition of business, net of cash acquired (407,129 ) -

Proceeds from sale of business - 179,416

Additions to property, equipment and software (7,530 ) (6,011 )

Acquisitions of intangible assets (48,219 ) (4,415 )

Net cash used in (provided by) investing activities (462,878 ) 168,990



Cash flows from financing activities:

Proceeds from issuance of long-term debt, net of issue 607,318 - discount

Debt issuance and modification costs paid (9,073 ) (2,749 )

Repayments of long-term debt (359,875 ) (109,505 )

Borrowings under revolving credit facility 30,000 7,000

Repayments under revolving credit facility - (7,505 )

Proceeds from issuance of senior preferred equity, net 219,062 - of issue discount

Senior preferred equity issuance fees and costs (8,098 ) -

Redemption of redeemable non-controlling interest of - (5,654 )subsidiary

Repurchases of common stock (1,023 ) -

Dividends paid to senior preferred stockholders (4,015 ) -

Profit distributions to redeemable non-controlling (814 ) (45,348 )interest of subsidiary

Proceeds from exercise of stock options 1,190 -

Settlement and customer accounts obligations, net 396,338 (7,295 )

Net cash provided by (used in) financing activities 871,010 (171,056 )



Net change in cash and cash equivalents, and restricted cash:

Net increase in cash and cash equivalents, and 405,565 8,365 restricted cash

Cash and cash equivalents, and restricted cash at 88,120 50,465 beginning of period

Cash and cash equivalents, and restricted cash at end $ 493,685 $ 58,830 of period

PRIORITY TECHNOLOGY HOLDINGS, INC.

Reportable Segments' Results

Unaudited

(in thousands)

Three Months Ended September 30,

Nine Months Ended September 30,

2021

2020

2021

2020

Consumer Payments:

Revenue

$

124,027

$

99,301

$

352,045

$

267,039

Operating expenses

109,371

88,203

309,578

241,519

Operating income

$

14,656

$

11,098

$

42,467

$

25,520

Operating margin

11.8

%

11.2

%

12.1

%

9.6

%

Depreciation and amortization

$

10,971

$

8,481

$

29,847

$

25,721

Key indicators:

Merchant bankcard processing dollar value

$

13,817,001

$

11,235,068

$

39,564,898

$

30,632,724

Merchant bankcard transaction volume

151,524

122,623

429,610

334,896

Commercial Payments:

Revenue

$

4,181

$

4,995

$

11,722

$

17,017

Operating expenses

4,210

4,826

12,139

15,609

Operating (loss) Income

$

(29

)

$

169

$

(417

)

$

1,408

Operating margin

(0.7

)%

3.4

%

(3.6

) %

8.3

%

Depreciation and amortization

$

73

$

77

$

220

$

231

Key indicators:

Merchant bankcard processing dollar value

$

86,855

$

58,304

$

225,373

$

195,229

Merchant bankcard transaction volume

54

24

140

70

Integrated Partners:

Revenue

$

4,334

$

4,666

$

7,086

$

14,195

Operating expenses

3,114

4,413

5,609

12,729

Operating income

$

1,220

$

253

$

1,477

$

1,466

Operating margin

28.1

%

5.4

%

20.8

%

10.3

%

Depreciation and amortization

$

1,017

$

1,403

$

1,222

$

4,048

Key indicators:

Merchant bankcard processing dollar value

$

13,832

$

105,537

$

38,256

$

352,144

Merchant bankcard transaction volume

160

371

390

1,207

Operating income of reportable segments

$

15,847

$

11,520

$

43,527

$

28,394

Less: Corporate expense

(7,597

)

(4,478

)

(23,345

)

(13,762

)

Consolidated operating income

$

8,250

$

7,042

$

20,182

$

14,632

Corporate depreciation and amortization

$

269

$

290

$

834

$

886

Key indicators:

Merchant bankcard processing dollar value

$

13,917,688

$

11,398,909

$

39,828,527

$

31,180,097

Merchant bankcard transaction volume

151,738

123,018

430,140

336,173

View source version on businesswire.com: https://www.businesswire.com/news/home/20211115005189/en/

CONTACT: Priority Investor and Media Inquiries: Chris Kettmann ckettmann@lincolnchurchilladvisors.com (773) 497-7575