Company: IIIV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001728688-25-000089
Chunk: 236

Company: i3 Verticals, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 236
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 or pandemics, climate-related events, including extreme weather events and natural disasters, riots, strikes, civil 

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insurrection or social unrest, terrorist or criminal activities, or other catastrophic events or other political and economic instability.

There are certain risks associated with the sale of our Healthcare RCM Business which was completed in May 2025.

In May 2025, we completed the sale of our Healthcare RCM Business. There is no assurance that we will be able to execute on our strategy in connection with, or realize the anticipated benefits from, the disposition of our Healthcare RCM Business. Moreover, there are post-closing risks associated with the ancillary agreements entered into by us at the closing, including the transition services agreement, the employee leasing agreement, and the restrictive covenant agreement. In addition, pursuant to the Healthcare RCM Purchase Agreement, we agreed to indemnify Infinx with respect to certain matters, which could result in liability to us following the closing. Further, we are now highly dependent on the success of our remaining Public Sector business.

Due to the sale of our Healthcare RCM Business, the Company’s consolidated financial statements included in this report and in prior periodic reports will not be comparable to the Company’s future consolidated financial results.

The  consolidated financial statements of the Company included in this Quarterly Report on Form 10-Q and in the Company’s prior periodic reports do not include the results of the Healthcare RCM Business in discontinued operations and as such these results are included in continuing operations. Accordingly, the financial statements included in this report and in prior periodic reports will not be comparable to the consolidated financial statements included in future consolidated financial results of the Company, which will reflect the Healthcare RCM Business as discontinued operations.

Item 2.    Unregistered Sales of Equity Securities and Use of Proceeds

During the three months ended March 31, 2025, we issued an aggregate of 813,782 shares, of Class A common stock in exchange for an equivalent number of shares of Class B common stock and Common Units pursuant to the terms of the i3 Verticals, LLC Limited Liability Company Agreement. These shares were issued in reliance on an exemption from registration pursuant to Section 4(a)(2) of the Securities Act of 1933. 

Issuer Purchases of  Equity Securities

The following table provides information with respect to purchases of shares of the Company’s Class A Common Stock made during the three months ended March 31, 2025 on behalf of the Company:

ISSUER PURCHASES OF E