We represented i3 Verticals, Inc. in its initial public offering (IPO) of 7,647,500 shares of Class A common stock for a total net proceeds of $92.5 million. The shares began trading on The Nasdaq Global Select Market under the symbol "IIIV" on June 21, 2018. Cowen and Company, LLC and Raymond James & Associates served as joint book-running managers and as representatives of the underwriters for the offering. KeyBanc Capital Markets acted as a bookrunner for the offering.
The transaction was highlighted by Law360 as the lone technology IPO for the week of June 18, 2018.
i3 Verticals was founded in 2012 with the purpose of delivering seamless integrated payment and software solutions to small- and medium-sized businesses (SMBs) and organizations in strategic vertical markets. Since commencing operations, i3 Verticals has built a broad suite of payment and software solutions that address the specific needs of SMBs and other organizations in its strategic vertical markets.