One of the companies that decided to join the trend of issuing shares and becoming publicly traded was also i3 Verticals, a credit card processing startup that went live on June 20th, 2019, starting at the price of 13$ per share.
Previously, the company is said to have managed to raise 30.8 million dollars through private funding rounds, which is considered to be a modest contribution from private investors and venture capitalists.
Ultimately, IIIV shares ended the first trading round at the value of over 18$ per share, raising 85.6 million dollars with their initial public offer, with a previous IPO estimates set at 328 million dollars.
Should You Invest in i3 Verticals (IIIV) Shares in the Long Run?
It appears that i3 Verticals and the decision of the company’s board to go public with an IPO might set an example for other credit card processing companies from the same sector, as IIIV seems to be attracting more investors as the time is passing by.
That is how the shares have been experiencing upward trends, bringing the price of is3 Verticals share to 24$ with the latest increase of over 3% with the recent closing in April 2019.
The company also published their financial reports for the first quarter of 2019, stating that the company is recording an increase by 10% in the first quarter revenues, set at 84.9 million dollars, adding that the net income for the same quarter is 2.4 million dollars.
Additionally, i3 Verticals is recording diluted income per share for A class common stocks was 0.02$ for the first quarter of 2019.
The CEO of the company, Greg Daily, stated on this occasion that the board is very happy with the recent financial reports, while adding that the President of the company, Rick Stanford will be focused on the revenue base expansion that should be achieved through acquisitions.