BTRS Holdings Inc. Announces Commencement of Exchange Offer and Consent Solicitation Relating to Warrants
BTRS Holdings Inc. - Class 1 (BTRS)
Company Research
Source: Business Wire
LAWRENCEVILLE, N.J.--(BUSINESS WIRE)--BTRS Holdings Inc. (“Billtrust” or the “Company”) (NASDAQ: BTRS), a B2B accounts receivable (AR) automation and integrated payments leader, today announced that it has commenced an exchange offer (the “Offer”) and consent solicitation (the “Consent Solicitation”) relating to its warrants, each whole warrant exercisable for one share of Class 1 Common Stock, par value 0.0001 per share (“Common Stock”), of the Company, at an exercise price of $11.50 per share (the “Warrants”). The purpose of the Offer and Consent Solicitation is to simplify the Company’s capital structure and reduce the potential dilutive impact of the Warrants, thereby providing the Company with more flexibility for financing its operations in the future.The Company is offering to all holders of the Warrants the opportunity to receive 0.30 shares of Common Stock in exchange for each Warrant tendered by the holder and exchanged pursuant to the Offer. Pursuant to the Offer, the C
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