---
schema_version: "secwatch.filing_event.v1"
accession: "0001728688-24-000079"
form_type: "8-K"
ticker: "IIIV"
cik: "0001728688"
company_name: "i3 Verticals, Inc."
filed_at: "2024-06-26T23:59:59+00:00"
generated_at: "2026-06-01T01:40:49.479490+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# i3 Verticals to sell merchant of record payments business to Payroc for $440M cash

## Summary
- Purchase price of $440M in cash for merchant of record payments business and proprietary technology.
- Closing expected in i3's fiscal Q4 2024 (quarter ending Sept 30, 2024), subject to HSR and other conditions.
- Proceeds to pay down almost all of its 2023 Senior Secured Credit Facility; borrowing rate to fall 1%.
- Remaining business becomes pure vertical software focused on Public Sector, Education, and Healthcare.
- i3 retains payment facilitation platform and ability to attach payments to its vertical software solutions.

## SEC filing metadata
- accession: 0001728688-24-000079
- form_type: 8-K
- ticker: IIIV
- cik: 0001728688
- company_name: i3 Verticals, Inc.
- filed_at: 2024-06-26T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1728688/000172868824000079/0001728688-24-000079-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1728688/000172868824000079/iiiv-20240626.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001728688-24-000079
- JSON: https://secwatch.observer/filing/0001728688-24-000079.json
- Plain text: https://secwatch.observer/filing/0001728688-24-000079.txt

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