Monitor for any future amendments that increase the stake above 10% or a conversion to Schedule 13D, which would signal activist intent. For now, the filing is a routine passive disclosure with no immediate trading catalyst.
Price Chart
Executive Summary
Forager Capital Management, LLC and related entities (Forager Fund, L.P., Edward Kissel, Robert MacArthur) filed a Schedule 13G disclosing a 6.1% passive stake in i3 Verticals, Inc. as of September 1, 2026. The filing indicates no intent to influence control, and the stake of 1,106,474 shares is a new disclosure from this filer. The filing is routine and neutral for the stock.
Key Financial Metrics
Key Facts
- Forager Capital Management, LLC and related entities beneficially own 1,106,474 shares of Class A common stock of i3 Verticals, Inc.
- The stake represents 6.1% of the 18,019,748 shares outstanding as of August 6, 2026.
- The filing is made under Rule 13d-1(c) and certifies passive intent with no purpose of changing or influencing control.
- This is a new Schedule 13G filing by Forager Capital Management; no prior 13G from this filer appears in the cross-filing context.
Financial Impact
6.1% passive stake valued at approximately $18-22 million based on recent trading range (estimated from ~$16-20/share).
Risk Factors
- Potential future conversion to Schedule 13D if the filer changes intent, which could introduce activist pressure.
- No material financial or operational impact from this passive stake alone.
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13G Filing (Primary) | 0001104659-26-112440 |
| Document: tm2626717d1_ex24-2.htm | 0001104659-26-112440 |
| Document: tm2626717d1_ex24-1.htm | 0001104659-26-112440 |
| Document: 0001104659-26-112440-index-headers.html | 0001104659-26-112440 |
| Document: 0001104659-26-112440-index.html | 0001104659-26-112440 |
| Document: 0001104659-26-112440.txt | 0001104659-26-112440 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 5d ago | SC 13G/A | $17.07 $16.94 | ▲ +0.76% | ▲ +1.29% | $16.97 (+0.62%) |
Oct 9, 2026 16d ago | 8-K | $16.20 $16.03 | ▼ −1.05% | ▼ −1.04% | $16.97 (+4.72%) |
Sep 30, 2026 25d ago | SC 13G | $14.46 $14.28 | ▼ −1.21% | ▼ −1.95% | $16.97 (+17.36%) |
Jun 2, 2026 20w ago | 8-K | $19.61 $19.86 | ▲ +1.27% | ▲ +0.88% | $16.97 (−13.49%) |
May 12, 2026 23w ago | 8-K | $18.89 $18.89 | · 0.00% | ▲ +0.00% | $16.97 (−10.19%) |
May 7, 2026 24w ago | 8-K | $21.14 $20.17 | ▼ −4.59% | ▼ −4.82% | $16.97 (−19.75%) |
US Market Status
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