i3 Verticals’ $87.8 Million Equity Offering

Davis Polk advised the representatives of the several underwriters in the offering.

i3 Verticals, Inc. executed its offering of common stock, consisting of 3,737,500 shares of its common stock, including shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares, for total gross proceeds of approximately $87.8 million. The common stock is listed on the Nasdaq Global Select Market under the symbol “IIIV.”

Helping drive the convergence of software and payments, i3 Verticals delivers seamlessly integrated payment and software solutions to small- and medium-sized businesses and other organizations in strategic vertical markets, such as education, non-profit, public sector, property management and healthcare, and to the business-to-business payments market.

The Davis Polk corporate team advising BofA Securities, Inc. and Morgan Stanley & Co. LLC, as representatives of the several underwriters, included partner Shane Tintle (Picture) and associates Johnathan M. Nixon and David Giron. The tax team included partner Michael Farber.

Involved fees earner: Michael Farber – Davis Polk & Wardwell; David Giron – Davis Polk & Wardwell; Johnathan Nixon – Davis Polk & Wardwell; Shane Tintle – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Bank of America Securities; Morgan Stanley;

Author: Ambrogio Visconti