Vertex prices upsized $300M 0.75% convertible notes due 2029 at ~$36.32 conversion price

Vertex, Inc.

Upsized from $250M; initial purchasers have option to buy additional $45M.
Notes bear 0.750% interest semi-annually, mature May 1, 2029; conversion price ~$36.32/share (30% premium over $27.94 close).
Net proceeds ~$290M; ~$36.8M to fund capped call transactions; remainder for working capital and potential acquisitions.
Capped call transactions entered to reduce dilution; cap price initially $55.88/share.
Settlement expected April 26, 2024; redemption allowed on/after May 5, 2027 under certain conditions.

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