Latham, Skadden Steer Tax Software Firm Vertex's $402M IPO

Law360 (July 29, 2020, 5:42 PM EDT) -- Tax software provider Vertex Inc. went public Wednesday after raising $402 million in an initial public offering that priced well above its range, steered by Latham & Watkins LLP and underwriters' counsel Skadden Arps Slate Meagher & Flom LLP.

King of Prussia, Pennsylvania-based Vertex sold 21.15 million Class A shares priced at $19 each late Tuesday night, raising $401.85 million. The company originally planned to price its shares between $14 to $16, a range that would have generated $317.25 million at midpoint.

Investors jumped on the offering, sending Vertex shares up $4.92 or 25.9%, to $23.92, in debut trading Wednesday afternoon....

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