Tax Software Co. Vertex Leads 5 IPO Launches Totaling $843M

Law360 (July 20, 2020, 7:22 PM EDT) -- Latham-led business tax software provider Vertex Inc. set a price range for an estimated $317 million initial public offering, joining four biotechnology companies that on Monday launched IPOs that could raise a combined $843 million before July is over.

King of Prussia, Pennsylvania-based Vertex, advised by Latham & Watkins LLP, told regulators that it plans to offer 21.15 million shares priced between $14 and $16 each. Vertex would raise $317.25 million at midpoint, using most proceeds to repay debt.

The four biotechnology companies that joined the queue along with Vertex could raise an additional $526 million combined, adding to a sizzling pace...

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