Payroc LLC agreed to acquire Merchant of Record Payments Business of i3 Verticals, Inc (NasdaqGS:IIIV) for $440 million on June 26, 2024. The transaction is subject to certain purchase price adjustments. The transaction is expected to close in i3 Verticals?

fiscal fourth quarter. Raymond James & Associates, Inc. acted as financial advisor for i3 Verticals, Inc. Bass, Berry & Sims PLC acted as legal advisor for i3 Verticals, Inc. Troutman Pepper Hamilton Sanders LLP acted as legal advisor for Payroc LLC. The transaction is subject to closing conditions as set forth in the definitive agreement, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.