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Digital payments processor i3 Verticals files for an $86 million IPO

May 25, 2018
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i3 Verticals, which provides integrated payment processing and software to SMBs, filed on Friday with the SEC to raise up to $86 million in an initial public offering.

The Nashville, TN-based company was founded in 2012 and booked $293 million in sales for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol IIIV. i3 Verticals filed confidentially on February 12, 2018. Cowen & Company, Raymond James and KeyBanc Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.