I’m going to opine that the total offering was in case more was needed to close the dead but $26.3 million was all that was necessary. All the company will confirm is that the stock issue is in connection with this deal. Zytax sold three FuelQuest apps to Avalara. These serve end users and governmental authorities that have fuel excise tax payment and reporting needs.
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AVALARA PAID $26.3M FOR FUELQUEST? Featured
Avalara announced its purchase of the FuelQuest excise tax line from Zytax two weeks ago. But it did not disclose terms. However, a recent SEC filing from the Bainbridge Island, Wash.-based sales tax software company suggests an amount. Avalara reported it sold $26.3 million in equity in connection with an acquisition. The total amount of the shares for sale was just short of $37 million (three dollars short to be exact).
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