BTRS Announces Launch of Public Offering of Common Stock
June 28 2021 - 4:48PM
BTRS Holdings Inc. (Nasdaq: BTRS) (“BTRS”), a leading provider
of cloud-based software and integrated payment processing solutions
that simplify and automate B2B commerce, today announced the
commencement of an underwritten secondary offering of 9,000,000
shares of the Company’s Class 1 common stock. All of the Class 1
common stock is being offered by existing shareholders and BTRS
will not receive any of the proceeds from the offering. The selling
shareholders have granted the underwriters a 30-day option to
purchase an aggregate of not more than 1,350,000 additional shares
of the Company’s Class 1 common stock on the same terms and
conditions. The Company will not receive any proceeds from any sale
of shares by the selling shareholders.
The offering is subject to market conditions,
and there can be no assurance as to whether or when the offering
may be completed or as to the actual size or terms of the
offering.
Citigroup Global Markets, Inc., J.P. Morgan
Securities LLC, BofA Securities, Inc. and William Blair &
Company, L.L.C. are acting as bookrunners.
A registration statement on Form S-1 relating to
the shares being sold in this offering, including a prospectus, was
filed with the U.S. Securities and Exchange Commission (the “SEC”)
on June 28, 2021, but has not yet become effective. These
securities may not be sold, nor may offers to buy be accepted,
prior to the time that the registration statement becomes
effective. A prospectus relating to the offering is available for
free on the SEC’s website located
at http://www.sec.gov. When available, electronic copies
of the prospectus may be obtained from Citigroup Global Markets
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, telephone: 1-800-831-9146; or J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, Telephone: 1-866-803-9204;
email: prospectus-eq_fi@jpmchase.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About BTRS Holdings Inc.
BTRS is at the forefront of the digital
transformation of accounts receivable (“AR”), providing
mission-critical solutions that span credit decisioning and
monitoring, online ordering, invoicing, cash application, and
collections. BTRS solutions integrate with a number of ecosystem
players, including financial institutions, enterprise resource
planning (“ERP”) systems, and accounts payable (“AP”) software
platforms, to help customers accelerate cash flow and generate
sales more quickly and efficiently. Customers use the BTRS platform
to transition from expensive paper invoicing and check acceptance
to efficient electronic billing and payments, which accelerates
revenue capture, generates cost savings, and provides a better user
experience.
Forward-Looking Statements
This press release includes “forward-looking
statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of words
such as “may,” “should,” “could,” “would,” “expect,” “plan,”
“anticipate,” “intend,” “believe,” “estimate,” “continue,” “goal,”
“project” or other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. These forward-looking statements include, but
are not limited to, statements regarding BTRS’s financial and
business performance, changes in BTRS’s strategy, the potential
benefits to BTRS’s customers of BTRS’s services, BTRS’s opportunity
and ability to grow and scale its business, BTRS’s expansion plans,
the impact of health epidemics on BTRS’s business, and future
operating results. These statements are based on various
assumptions, whether or not identified in this press release, and
on the current expectations of BTRS’s management and are not
predictions of actual performance. These forward-looking statements
are provided for illustrative purposes only and are not intended to
serve as, and must not be relied on by any investor as, a
guarantee, an assurance, a prediction or a definitive statement of
fact or probability. Actual events and circumstances are difficult
or impossible to predict and may differ from assumptions. Many
actual events and circumstances are beyond the control of BTRS.
These forward-looking statements are subject to a number of risks
and uncertainties, including the ability to maintain the listing of
BTRS common stock on Nasdaq; changes in applicable laws and
regulations; the impact of the COVID-19 pandemic on BTRS’s
business; BTRS’s ability to execute its business model, BTRS’s
ability to attract and retain customers and expand customers’ use
of BTRS’s products and services; risks relating to the uncertainty
of BTRS’s projected financial and operating information; BTRS’s
ability to raise capital; the possibility BTRS will be adversely
affected by other economic, business, and/or competitive factors;
and the risks discussed in BTRS’s Annual Report on Form 10-K filed
on March 24, 2021, under the heading “Risk Factors” and other
documents of BTRS filed, or to be filed, with the SEC. If any of
these risks materialize or any of BTRS’s assumptions prove
incorrect, actual results could differ materially from the results
implied by these forward-looking statements. There may be
additional risks that BTRS presently does not know of or that BTRS
currently believes are immaterial that could also cause actual
results to differ from those contained in the forward-looking
statements. In addition, forward-looking statements reflect BTRS’s
expectations, plans or forecasts of future events and views as of
the date of this press release. BTRS anticipates that subsequent
events and developments will cause BTRS’s assessments to change.
However, while BTRS may elect to update these forward-looking
statements at some point in the future, BTRS specifically disclaims
any obligation to do so. These forward-looking statements should
not be relied upon as representing BTRS’s assessments as of any
date subsequent to the date of this press release. Accordingly,
undue reliance should not be placed upon the forward-looking
statements.
Investor Relations Contact for
BTRS: ICRBilltrustIR@icrinc.com
Media Contact for BTRS: Meredith
SimpsonMSimpson@Billtrust.comwww.billtrust.com
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