Vertex IPO to Start at $19 per Share

Vertex, Inc., which has filed for an initial public offering scheduled for this week, has announced the pricing of its initial public offering of 21,150,000 shares of Class A common stock at a price to the public of $19.00 per share. Vertex is a provider of tax technology and services.

In addition, Vertex and certain selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2,662,216 and 510,284 shares of Class A common stock, respectively, at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the Nasdaq Global Market on July 29, 2020 under the ticker symbol “VERX.” The offering is expected to close on July 31, 2020, subject to the satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint lead book-running managers and as representatives of the underwriters for the offering. BofA Securities, Citigroup and Jefferies are also acting as book-running managers and JMP Securities, Stifel, William Blair and CastleOak Securities, L.P. are acting as co-managers for the offering.