---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-125746"
form_type: "8-K"
ticker: "VERX"
cik: "0001806837"
company_name: "Vertex, Inc."
filed_at: "2023-12-13T23:59:59+00:00"
generated_at: "2026-06-07T13:35:02.557856+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Vertex launches SEK 5.8B public tender offer for Pagero; secures $491M investment from Silver Lake

## Summary
- Tender offer at SEK 36 per share, a 71.4% premium to Pagero's Dec 12 closing price.
- Acceptance period runs Dec 15, 2023 to Jan 23, 2024; settlement expected around Feb 1, 2024.
- Silver Lake invests $491.25M for 500,000 shares of 11.75% Series A Convertible Preferred Stock plus warrants for 2.5M common shares.
- Convertible preferred has initial liquidation preference of $1,000/share, conversion price set at 20% premium to VWAP (floor $32.50, cap $37.50).
- Company also amended its credit agreement to increase pricing margin by 50 bps and modify covenants in connection with the acquisition.

## SEC filing metadata
- accession: 0001104659-23-125746
- form_type: 8-K
- ticker: VERX
- cik: 0001806837
- company_name: Vertex, Inc.
- filed_at: 2023-12-13T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1806837/000110465923125746/0001104659-23-125746-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1806837/000110465923125746/tm2332761d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-125746
- JSON: https://secwatch.observer/filing/0001104659-23-125746.json
- Plain text: https://secwatch.observer/filing/0001104659-23-125746.txt

## Key facts
- Material Agreements
  Vertex, Inc. entered into Investment Agreement with Silver Lake Alpine II, L.P. valued at Aggregate purchase price of $491,250,000 for 500,000 shares of 11.75% Series A Convertible Preferred (effective 2023-12-12).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Silver Lake Alpine II, L.P.
  - Value: Aggregate purchase price of $491,250,000 for 500,000 shares of 11.75% Series A Convertible Preferred
  - Effective: 2023-12-12
  source text: On December 12, 2023, the Company and Silver Lake entered into an investment agreement (the "Investment Agreement") pursuant to which the Company has agreed to issue 500,000 shares of 11.75% Series A Convertible Preferred Stock (the "Convertible Preferred Stock") and warrants (the "warrants") to purchase 2,500,000 shares of the Company's Class A Common Stock, $0.001 par value per share (the "Class A Common Stock"), to Silver Lake for an aggregate purchase price of $491,250,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1806837/000110465923125746/0001104659-23-125746-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.