i3 Verticals, Inc.

i3 Verticals provides essential enterprise software solutions to public sector organizations. These extensive cloud-based solutions cover various government operations, including courts and public safety, public administration, utilities, transportation, and schools. The company aims to help state and local governments and related agencies perform their functions and serve their constituents as effectively and efficiently as possible. i3 Verticals is a leader in the public sector, with thousands of software installations across all 50 states and Canada. On September 20, 2024, i3 Verticals, LLC, and i3 Holdings Sub, Inc. (together, the "Sellers") completed the sale of their merchant services business to Payroc Buyer, LLC ("Buyer"). This transaction, outlined in a Securities Purchase Agreement dated June 26, 2024, involved the Sellers selling the equity interests of certain direct and indirect wholly-owned subsidiaries that primarily made up the company's merchant services business, including its proprietary technology. This sale followed the contribution of specific assets and the assignment of certain liabilities related to the merchant services business from i3 Verticals, LLC and affiliates to the acquired entities immediately before the closing.