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    SEC Form SC 13G/A filed by BTRS Holdings Inc. (Amendment)

    2/10/23 4:08:46 PM ET
    $BTRS
    EDP Services
    Technology
    Get the next $BTRS alert in real time by email
    SC 13G/A 1 p23-0627sc13ga.htm BTRS HOLDINGS INC.

     

    SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549
     
     
    SCHEDULE 13G/A
     
    Under the Securities Exchange Act of 1934
    (Amendment No. 1)*
     

    BTRS Holdings Inc.

    (Name of Issuer)
     

    Class 1 Common Stock, par value $0.0001 per share

    (Title of Class of Securities)
     

    11778X104

    (CUSIP Number)
     

    December 31, 2022

    (Date of Event Which Requires Filing of this Statement)
     
     
    Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
     
    ¨ Rule 13d-1(b)
    ý Rule 13d-1(c)
    ¨ Rule 13d-1(d)
     
    (Page 1 of 7 Pages)

     

    ______________________________

    *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

    The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     

    CUSIP No. 11778X104

    13G/APage 2 of 7 Pages

     

    1

    NAME OF REPORTING PERSON

     

    Senvest Management, LLC

    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

    (a) ¨

    (b) ¨

    3 SEC USE ONLY
    4

    CITIZENSHIP OR PLACE OF ORGANIZATION

    Delaware

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON WITH
    5

    SOLE VOTING POWER

    0

    6

    SHARED VOTING POWER

    0

    7

    SOLE DISPOSITIVE POWER

    0

    8

    SHARED DISPOSITIVE POWER

    0

    9

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

    0

    10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ¨
    11

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

    0%

    12

    TYPE OF REPORTING PERSON

    OO, IA

             

     

     

     

    CUSIP No. 11778X104

    13G/APage 3 of 7 Pages

     

    1

    NAME OF REPORTING PERSON

     

    Richard Mashaal

    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

    (a) ¨

    (b) ¨

    3 SEC USE ONLY
    4

    CITIZENSHIP OR PLACE OF ORGANIZATION

    Canada

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON WITH
    5

    SOLE VOTING POWER

    0

    6

    SHARED VOTING POWER

    0

    7

    SOLE DISPOSITIVE POWER

    0

    8

    SHARED DISPOSITIVE POWER

    0

    9

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

    0

    10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ¨
    11

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

    0%

    12

    TYPE OF REPORTING PERSON

    IN, HC

             

     

     

    CUSIP No. 11778X104

    13G/APage 4 of 7 Pages

     

    Item 1(a). Name of Issuer.
      BTRS Holdings Inc. (the "Issuer")

     

    Item 1(b). Address of Issuer's Principal Executive Offices.
     

    1009 Lenox Drive, Suite 101

    Lawrenceville, New Jersey 08648

     

    Item 2(a). Name of Person Filing.
      This statement is filed by Senvest Management, LLC and Richard Mashaal.
       
      The reported securities were held in the account of Senvest Master Fund, LP and Senvest Technology Partners Master Fund, LP (the "Investment Vehicles").
       
      Senvest Management, LLC may have been deemed to beneficially own the securities held by the Investment Vehicles by virtue of Senvest Management, LLC's position as investment manager of the Investment Vehicles. Mr. Mashaal may have been deemed to beneficially own the securities held by the Investment Vehicles by virtue of Mr. Mashaal's status as the managing member of Senvest Management, LLC.

     

    Item 2(b). Address of Principal Business Office.
     

    Senvest Management, LLC

    540 Madison Avenue, 32nd Floor

    New York, New York 10022

       
     

    Richard Mashaal

    c/o Senvest Management, LLC

    540 Madison Avenue, 32nd Floor

    New York, New York 10022

     

    Item 2(c). Place of Organization.
      Senvest Management, LLC – Delaware
       
      Richard Mashaal – Canada

     

    Item 2(d). Title of Class of Securities.
      Class 1 Common Stock, par value $0.0001 per share

     

    Item 2(e). CUSIP Number.
      11778X104

     

     

    CUSIP No. 11778X104

    13G/APage 5 of 7 Pages

     

    Item 3. If this Statement is Filed Pursuant to §§ 240.13d-1(b) or 240.13d-2(b), or (c), check whether the Person Filing is a:
      (a) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
      (b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
      (c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
      (d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
      (e) ¨ An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
      (f) ¨

    An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

     

      (g) ¨

    A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);

     

      (h) ¨

    A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C.1813);

     

      (i) ¨

    A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

     

      (j) ¨ A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J);
      (k) ¨ Group, in accordance with §240.13d-1(b)(1)(ii)(K).

     

     

    If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please

    specify the type of institution:                                                                                       

     

    Item 4. Ownership.
      The information required by Items 4(a) – (c) is set forth in Rows (5) – (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.

     

    Item 5. Ownership of Five Percent or Less of a Class.
      If this statement is being filed to report the fact that as of the date hereof the reporting persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following: ý

     

     

    CUSIP No. 11778X104

    13G/APage 6 of 7 Pages

     

    Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
      Not applicable.

     

    Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
      Not applicable.

     

    Item 8. Identification and Classification of Members of the Group.
      Not applicable.

     

    Item 9. Notice of Dissolution of Group.
      Not applicable.

     

    Item 10. Certification.
      By signing below each Reporting Person certifies that, to the best of his or its 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.

     

     

     

    CUSIP No. 11778X104

    13G/APage 7 of 7 Pages

     

    SIGNATURE

    After reasonable inquiry and to the best of my knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
       
    Date:  February 10, 2023  
      SENVEST MANAGEMENT, LLC
       
      By: /s/ Bobby Trahanas
      Name: Bobby Trahanas
      Title: Chief Compliance Officer
       
       
      /s/ Richard Mashaal
      RICHARD MASHAAL

     

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