BTRS Holdings (BTRS) Prices 9M Share Secondary Offering at $12.25/sh

BTRS Holdings Inc. (NASDAQ: BTRS) today announced the pricing of an underwritten secondary offering of 9,000,000 shares of the Company’s Class 1 common stock at a public offering price of $12.25 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions, are expected to be $110,250,000. All of the Class 1 common stock is being offered by existing shareholders and Billtrust will not receive any of the proceeds from the offering. Certain 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 expected to close on or about July 6, 2021, subject to satisfaction of customary closing conditions.

Citigroup Global Markets, Inc., J.P. Morgan Securities LLC, BofA Securities, Inc. and William Blair & Company, L.L.C. are acting as bookrunners. Canaccord Genuity LLC, Guggenheim Securities, LLC and Needham & Company, LLC are acting as co-managers.

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, and became effective on June 30, 2021. A prospectus relating to the offering is available for free on the SEC’s website located at http://www.sec.gov. 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: [email protected].

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.

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