IMTX - Billtrust to go public via South Mountain Merger

Billtrust enters into an agreement with South Mountain Merger (SMMCU) to go public with an implied estimated enterprise value of ~$1.3B, representing an 8.0x and 10.5x multiple to 2021 expected GAAP total revenue of $161M and Non-GAAP net revenue of $123M respectively. .Upon closing of this transaction, the Company intends to change its name to BTRS Holdings and is expected to trade on Nasdaq under a new ticker symbol.Billtrust's management team will continue to lead the Company.Billtrust is a leading provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce.Billtrust equity holders will be paid through South Mountain's net cash in trust and a $200M private placement at $10.00 per share and the balance in common stock of the Company.Following the transaction, the Company is expected to be debt free with approximately $200M in cash, offering significant capital flexibility for continued growth, both organic and inorganic.The transaction is expected

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Billtrust to go public via South Mountain Merger