i3 Verticals Reports Three Acquisitions and Inducement Equity Grants
The first acquisition is within the Company’s fast-growing Public Sector vertical. This business is based in the southeast and provides software and services for public safety and law enforcement customers. The second acquisition is within the Company’s Healthcare vertical and offers medical billing and other software. This business is also headquartered in the southeast but serves customers across the country. The final acquisition offers proprietary technology that will augment the Company’s existing platform across several verticals. It is also based in the southeast and serves customers on a nationwide basis.
Chairman and CEO
The aggregate cash consideration paid at closing for the three deals was
In accordance with Nasdaq Listing Rule 5635(c)(4), the Company has granted equity awards under its 2020 Acquisition Equity Incentive Plan to the new employees who joined the Company in connection with these acquisitions. The Company granted options to purchase a total of 265,000 shares of the Company’s Class A common stock to 45 employees as a material inducement to enter into employment with the Company. These stock options will vest ratably over three years, subject to the employees’ continued service to the Company through each applicable vesting date. The stock options have an exercise price equal to
About
Helping drive the convergence of software and payments,
Forward-Looking Statements
This release contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact or relating to present facts or current conditions included in this release are forward-looking statements, including any statements regarding guidance and statements of a general economic or industry specific nature. Forward-looking statements give the Company’s current expectations and projections relating to its financial condition, results of operations, guidance, plans, objectives, future performance and business. You generally can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “could have,” “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Forward-looking statements are not guarantees of future performance, and the Company’s actual results could differ materially from the expectations expressed or implied in any forward-looking statements. You should not put undue reliance on them. Examples of forward-looking statements contained in this release include statements about the Company’s use of proceeds from the offering. Actual results may differ from those contained in any forward-looking statements made in this release for a variety of reasons, including those described in “Risk Factors” and “Note Regarding Forward-looking Statements” in the Company’s Annual Report on Form 10-K for the year ended
View source version on businesswire.com: https://www.businesswire.com/news/home/20201005005913/en/
Chief Financial Officer
(615) 988-9890
cwhitson@i3verticals.com
General Counsel & Secretary
(615) 465-4487
pmaple@i3verticals.com
Source: