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SMMC shareholders approve Billtrust merger, stock ticker changes to BTRS


South Mountain Merger Corp. (Nasdaq: SMMC), a publicly traded SPAC, today announced (via Form 8-K, reviewed by Idaho Reporter) that shareholders voted Tuesday to approve the proposed business combination with Factor Systems, Inc. (Billtrust), making it public.
At the Special Meeting, South Mountain’s stockholders were asked to approve and adopt the previously announced Business Combination Agreement and other such proposals as disclosed in the proxy statement/consent solicitation statement/prospectus relating to the Business Combination.
According to MarketWatch the new entity will be debt free and have $200 million in cash. The combined company will have an implied estimated enterprise value of approximately $1.3 billion at closing. ....

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South Mountain Merger Corp. Announces Meeting Date for Special Meeting of Stockholders Relating to Previously Announced Business Combination with Billtrust


Share:
NEW YORK, Dec. 22, 2020 (GLOBE NEWSWIRE) South Mountain Merger Corp. (NASDAQ:SMMC) ( South Mountain ), a publicly traded special purpose acquisition company, today announced that it has set January 12, 2021 as the meeting date for the special meeting of stockholders (the Special Meeting ) to consider matters related to the proposed business combination (the Business Combination ) with Factor Systems, Inc. (d/b/a Billtrust) ( Billtrust ).
At the Special Meeting, South Mountain s stockholders will be asked to approve and adopt the previously announced Business Combination Agreement (as amended on December 13, 2020, the BCA ) and other such proposals as disclosed in the proxy statement/consent solicitation statement/prospectus relating to the Business Combination. Holders of South Mountain s shares of Class A Common Stock and Class B Common Stock at the close of business on the record date of December 17, 2020 are entitled to notice of the virtual Special Meetin ....

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