NEW YORK, Sept. 29, 2022 /PRNewswire/ — Shareholder rights law firm Julie & Holleman is investigating the proposed acquisition of BTRS Holdings Inc. (NASDAQ: BTRS) (“Billtrust”) by affiliates of private equity firm EQT. The deal was announced on September 28, 2022, offers Billtrust shareholders just $9.50 per share, and is expected to be completed in the fourth quarter of 2023.
To learn more about the investigation, click here.
Billtrust is a leading provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. Wall Street analysts have established price targets as high as $13 per share for the company’s stock, and an EQT partner has hailed the company as “a compelling value proposition.” Nonetheless, the $1.7 proposed acquisition will end Billtrust’s tenure as a publicly traded company. Critically, two of the company’s major shareholders, including Chairman and CEO Flint A. Lane and affiliates of Bain Capital Ventures, LLC, are opted against taking the merger consideration and are instead rolling over their interest into the post-close company.
Julie & Holleman is investigating potential legal claims available to Billtrust’s shareholders regarding the proposed acquisition, including claims relating to potential conflicts related to the rollover agreements involving Lane and Bain. Julie & Holleman is also concerned about the adequacy of the $9.50 per share acquisition price given the company’s upside potential and the aforementioned price targets reaching as high as $13 per share.
If you would like more information about Julie & Holleman’s investigation, or about the acquisition in general, please contact W. Scott Holleman by email at scott@julieholleman.com or by telephone at (929) 415-1020. You may also visit the firm’s website by clicking here.
Julie & Holleman is a boutique law firm that focuses on shareholder litigation, including derivative actions, mergers and acquisitions cases, securities fraud class actions, and corporate investigations. The firm’s attorneys litigate in state and federal courts across the nation. For more information about the firm, please visit https://www.julieholleman.com/. This notice may constitute attorney advertising.
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SOURCE Julie & Holleman LLP
