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
