Stradley Assisted in Dual-Class Structure IPO

Stradley Ronon assisted one of the three Westphal family groups in connection with Vertex Inc.’s IPO, which was completed on July 29, 2020, and raised $401 million dollars for the company. As part of the IPO process, Vertex Inc. created a dual-class structure which gives the three Westphal family groups owning a combined 78.5% of the company’s voting power after the IPO, and the existing family groups needed to amend and restate their shareholders’ agreement to take account of such dual-class structure and the realities of being a public company.

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