Vertex (VERX) IPO Opens 35% Higher

Today's IPO for Vertex (NASDAQ: VERX) opened for trading at $25.56 after pricing 21,150,000 shares of Class A common stock at a price to the public of $19.00 per share.

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.

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.

Vertex, Inc. is a leading global provider of indirect tax software and solutions. The company’s mission is to deliver the most trusted tax technology enabling global businesses to transact, comply and grow with confidence. Vertex provides cloud-based and on-premise solutions that can be tailored to specific industries for every major line of indirect tax, including sales and consumer use, value added and payroll. Headquartered in North America, and with offices in South America and Europe, Vertex employs over 1,100 professionals and serves companies across the globe.

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