i3 Verticals recapitalizes to reduce excess cash from tax distribution; increases ownership to 70.83%

i3 Verticals, Inc.

Contributed ~$21.4M cash to i3 LLC for 896,763 new common units at $23.86/unit (50-day VWAP).
Reverse unit split at ~0.9631:1 maintained one-to-one ratio with Class A shares; 369,256 Class B shares retired without consideration.
Company's ownership of Common Units rose from ~70.05% to ~70.83%; Continuing Equity Owners fell to ~29.17%.
Recapitalization follows LLC tax distribution from September 2024 merchant services sale.

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