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Sept. 28, 2022, 9:10 a.m. EDT

Billtrust to be acquired at a 65% premium by EQT in a deal valued at $1.7 billion

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By Tomi Kilgore

BTRS Holdings Inc. /zigman2/quotes/213487046/composite BTRS 0.00% announced Wednesday an agreement to be acquired in a deal valued at $1.7 billion by private-equity fund EQT X fund, which is part of EQT. BTRS's stock was halted for news until 9:50 a.m. Eastern. Under terms of the deal, shareholders of the accounts receivable automation and payments company, known as Billtrust, will receive $9.50 in cash for each BTRS share they own, which represents a 64.6% premium to Tuesday's closing price of $5.77. The deal is expected to close in the first quarter of 2023. "We believe B2B [business-to-business] 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," said Billtrust Chief Executive Flint Lane. BTRS stock has gained 10.8% over the past three months through Tuesday while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.09% has lost 4.6%.

/zigman2/quotes/213487046/composite
US : U.S.: Nasdaq
$ 9.47
0.00 0.00%
Volume: 878,004
Dec. 1, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.56 billion
Rev. per Employee
$275,326
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/zigman2/quotes/210599714/realtime
US : S&P US
4,076.57
-3.54 -0.09%
Volume: 0.00
Dec. 1, 2022 5:17p
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