secwatch.observer — SEC 8-K summary
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Issuer:     Vertex, Inc. (VERX)
CIK:        0001806837
Form:       8-K
Filed at:   2023-12-13T23:59:59+00:00
Accession:  0001558370-23-019748
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vertex offers ~$555M to acquire Pagero; Silver Lake invests $500M in convertible preferred
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- Offer price 36 SEK/share (~$555M), a 71.4% premium to Pagero's Dec 12 close.
- Silver Lake invests $500M in convertible preferred (11.75% PIK dividend, conversion at 20% premium) plus warrants for 2.5M shares.
- Two largest Pagero shareholders (~40.4% of shares) irrevocably agreed to accept the offer.
- Acceptance period Dec 15, 2023 to Jan 23, 2024; subject to >90% tender and regulatory approvals.
- Vertex expects market opportunity expansion from $22B to $28B; accretion to margins in second year post-close.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1806837/000155837023019748/0001558370-23-019748-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1806837/000155837023019748/verx-20231213x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-019748

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer