i3 Verticals to repurchase ~$90.8M of 1% exchangeable notes due 2025 for ~$87.5M cash

i3 Verticals, Inc.

LLC will buy back ~$90.8M principal of 1.00% Exchangeable Senior Notes due 2025 for ~$87.5M cash, subject to price adjustment based on stock price.
Repurchase will leave ~$26.2M principal outstanding; closing expected on or about January 18, 2024.
In connection, company and LLC will terminate corresponding portions of convertible note hedge and warrant transactions with counterparties.
Counterparties may sell shares of Class A common stock in secondary market or unwind derivatives, potentially affecting stock price.

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