i3 Verticals, Inc.

Issuer

i3 Verticals, Inc.

Principal executive office address

40 Burton Hills Blvd., Suite 415, Nashville, TN 37215

Citizenship

The Fund is a Delaware limited partnership. The General Partner is a Delaware limited liability company. Each of Messrs. Kissel and MacArthur is a citizen of the United States.

Filing person

This joint statement on Schedule 13G is being filed by Forager Fund, L.P., a Delaware limited partnership (the "Fund"), Forager Capital Management, LLC, a Delaware limited liability company and the general partner of the Fund (the "General Partner"), Edward Kissel and Robert MacArthur (collectively, the "Reporting Persons").

Principal business or residence address

The business address of each of the Reporting Persons is 2025 3rd Ave. N, Suite 350, Birmingham, AL 35203.

Not applicable indication

Y

Percent of class

6.1%. The percentages of beneficial ownership reported herein, and on each Reporting Person's cover page to this Schedule 13G, are based on a total of 18,019,748 shares of Common Stock issued and outstanding as of August 6, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for its fiscal quarter ended June 30, 2026, filed with the Securities and Exchange Commission on August 7, 2026.

Amount beneficially owned

The Reporting Persons, in the aggregate, beneficially own 1,106,474 shares of Class A common stock, $0.0001 par value per share, of the Issuer ("Common Stock").

Sole voting power

Each of the Fund and the General Partner has the sole power to vote or to direct the vote of 1,106,474 shares of Common Stock. Each of Messrs. Kissel and MacArthur has the sole power to vote or to direct the vote of 0 shares of Common Stock.

Shared voting power

Each of the Fund and the General Partner has the shared power to vote or to direct the vote of 0 shares of Common Stock. Each of Messrs. Kissel and MacArthur has the shared power to vote or to direct the vote of 1,106,474 shares of Common Stock.

Sole dispositive power

Each of the Fund and the General Partner has the sole power to dispose or to direct the disposition of 1,106,474 shares of Common Stock. Each of Messrs. Kissel and MacArthur has the sole power to dispose or to direct the disposition of 0 shares of Common Stock.

Shared dispositive power

Each of the Fund and the General Partner has the shared power to dispose or to direct the disposition of 0 shares of Common Stock. Each of Messrs. Kissel and MacArthur has the shared power to dispose or to direct the disposition of 1,106,474 shares of Common Stock.

Not applicable indication

Y

Not applicable indication

Y

Not applicable indication

Y

Not applicable indication

Y

Not applicable indication

Y

Not applicable indication

N

Certifications

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

Exhibit 24.1 - Power of Attorney, dated September 30, 2026, by Edward Kissel Exhibit 24.2 - Power of Attorney, dated September 30, 2026, by Robert MacArthur Exhibit 99.1 - Joint Filing Agreement, dated September 30, 2026, by and among the reporting persons