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Tax Software Company Vertex Announces Terms for $317 Million US IPO

CY Seah

Vertex Inc, a leading global provider of indirect tax software and solutions, has filed Amendment No.1 to Form S-1 Registration Statement on July 20, 2020 with the U.S. Securities and Exchange Commission to announced terms for its IPO.

The company plans to raise $317 million by offering 21.2 million shares at a price range of $14 to $16. Assuming a successful IPO at the midpoint of the proposed range, the company expects a market capitalization of $2.3 billion.

The company delivers comprehensive tax solutions and derives its revenue from software subscriptions and services. The company has more than 4,000 customers, including over half of the Fortune 500, in over 130 countries.

The King of Prussia, Pennsylvania-based company was founded in 1978 and booked $336 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq Global Market under the symbol “VERX.” Goldman Sachs, Morgan Stanley, BofA Securities, Citi and Jefferies are underwriters of the IPO.

The company engages Latham & Watkins LLP as US Securities Counsel and Crowe LLP as Independent Auditor.

It is expected to price during the week of July 27, 2020.

#ipo #nasdaq #taxation #technology #vertex #hexcellence




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