i3 Verticals, which provides integrated payment processing and software to SMBs, announced terms for its IPO on Monday.
The Nashville, TN-based company plans to raise $80 million by offering 6.7 million shares at a price range of $11 to $13. At the midpoint of the proposed range, i3 Verticals would command a fully diluted market value of $307 million.
i3 Verticals 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. Cowen & Company, Raymond James and KeyBanc Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of June 18, 2018.
