Troutman Pepper Advises Priority Technology Holdings in Stalking Horse Agreement to Buy Plastiq

ATLANTA – Troutman Pepper client Priority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority”), a leading payments technology company, has signed a definitive agreement as the stalking horse bidder to acquire the assets of Plastiq, Inc., and several of its affiliates. Plastiq, a B2B payments platform for small and midsize businesses, filed for Chapter 11 bankruptcy protection on May 24, 2023. Read Priority’s press release about the agreement.

The multi-disciplinary team advising Priority was led by Partner James Stevens (Corporate), and included Partners Jeffery Banish (Benefits), Matt Brooks (Bankruptcy), Gary Marsh (Bankruptcy), and James Schutz (IP); Associates Lauren Giambalvo (IP), Alexander Hill (Benefits), Madelynn Kay (Real Estate), Kristalyn Lee (Labor & Employment), Brenna Sheffield (Corporate), Monica Vu (Corporate), and Carmen Williams (Corporate); and Counsel Jessica Rothenberg (Labor & Employment).

Troutman Pepper’s Financial Services Industry Group offers comprehensive support to all types of financial services businesses in today’s challenging and ever-changing environment. Our team includes more than 200 attorneys who regularly advise national, regional, and community banks, financial technology companies, payment processors, consumer and commercial lenders, and a wide variety of other financial services businesses on the most crucial aspects of their business, from structuring major transactions to dealing with regulatory scrutiny and litigation. In 2022, it was awarded Fintech Outstanding Deal of the Year by The Deal. Troutman Pepper is regularly recognized for its prowess in the space, including by Chambers and Partners, U.S. News – Best Lawyers® “Best Law Firms,” and Legal 500, among others.

About Troutman Pepper

Troutman Pepper is a national law firm with more than 1,200 attorneys strategically located in 23 U.S. cities. The firm’s litigation, transactional, and regulatory practices advise a diverse client base, from start-ups to multinational enterprises. The firm provides sophisticated legal solutions to clients’ most pressing business challenges, with depth across industry sectors, including energy, financial services, health sciences, insurance, and private equity, among others. Learn more at troutman.com.