- BTRS Holdings Inc (NASDAQ:BTRS) stockholders voted to approve the definitive merger agreement with an affiliate of EQT X Fund (EQT Private Equity) at a special meeting of the company's stockholders.
- Under the agreement, an affiliate of EQT Private Equity will acquire all of the outstanding shares of Billtrust common stock for $9.50 per share in cash.
- The transaction will likely close on December 16, 2022.
- Upon completion of the transaction, Billtrust's shares will no longer trade on the NASDAQ, and Billtrust will become a private company.
- Billtrust provides cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce.
- In September, the EQT X fund agreed to acquire BTRS in an all-cash transaction valuing Billtrust's equity at $1.7 billion.
- The purchase price per share implied over 64% premium above the closing share price of $5.77 on September 27.
- Price Action: BTRS shares closed higher by 0.32% at $9.49 on Tuesday.
