05:58 PM EDT, 04/22/2024 (MT Newswires) -- Vertex (VERX) said late Monday it expects Q1 revenue of between $155.5 million and $157.5 million, up from $132.8 million a year earlier.

Analysts polled by Capital IQ expect $154.4 million. The company will release its Q1 results on May 8.

Vertex also said it plans to raise $250 million via a private offering of convertible senior notes due 2029 to institutional investors.

Initial buyers of the notes will have a 13-day option to purchase up to an additional $37.5 million of notes, it said.

The company said it expects to enter into privately negotiated capped call transactions with certain initial purchasers of the notes or their respective affiliates or other financial institutions.

It plans to use a portion of the proceeds from the notes offering to fund the cost of its capped call transactions and the rest for working capital or other general corporate purposes.