KING OF PRUSSIA, Pa., April 26, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex"), a leading global provider of indirect tax solutions, today announced the closing of its private offering of $345 million aggregate principal amount of 0.750% convertible senior notes due 2029 (the "notes") to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and related capped call transactions. The offering represents the aggregate of both the previously announced, upsized offering of $300 million as well as the full exercise of the $45 million option to purchase additional notes granted by Vertex to the initial purchasers of the notes. Vertex estimates that the net proceeds from the offering will be approximately $333.7 million, after deducting the initial purchasers' discount and estimated offering expenses payable by Vertex. Vertex used approximately $42.4 million of the net proceeds from this offering to fund the cost of the previously disclosed capped call transactions and intends to use the remainder for working capital or other general corporate purposes, which may include capital expenditures, potential acquisitions and strategic transactions. However, Vertex has not designated any specific uses and has no current agreements with respect to ...