Big Law

EQT Private Equity to Acquire Billtrust for $1.7B

BTRS Holdings Inc. (“Billtrust” or “the Company”) (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, today announced that it has entered into a definitive agreement to be acquired by EQT X fund (“EQT Private Equity”), part of EQT, a leading global investment organization, in an all-cash transaction valuing Billtrust’s equity at approximately $1.7 billion.

Under the terms of the agreement, Billtrust shareholders will receive $9.50 per share in cash upon the closing of the transaction. The price per share represents more than a 64 percent premium above the closing share price of $5.77 on September 27, 2022, and more than a 76 percent premium above the trailing 90-day volume weighted average stock price for the period ended September 27, 2022.

“This transaction marks the beginning of an exciting new chapter for Billtrust, our customers and employees while providing shareholders an immediate and substantial cash value with a compelling premium,” said Flint Lane, Billtrust Founder and CEO. “We believe B2B payments and accounts receivable continue to be ripe for massive disruption and innovation, and our partnership with EQT will provide us with greater resources and flexibility to build on our leadership position.”

Read the source article at businesswire.com

    Leave a Review or Comment

    Your email address will not be published. Required fields are marked *

    Back to top button