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BTRS Holdings To Be Taken Private By EQT Private Equity In $1.7 Bln All-cash Deal
(RTTNews) - BTRS Holdings Inc. (BTRS), a B2B accounts receivable automation and integrated payments leader, announced that it has entered into a definitive agreement to be acquired by EQT X fund, part of EQT Private Equity, in an all-cash transaction valuing BTRS's equity at approximately $1.7 billion.
Under the terms of the agreement, BTRS 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.
The transaction, which was approved by the BTRS Board of Directors, is expected to close in the first quarter of 2023, subject to customary closing conditions, including approval by Billtrust shareholders and receipt of applicable regulatory approval.
Upon completion of the transaction, Billtrust's shares will no longer trade on the NASDAQ, and Billtrust will become a private company.
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