South Mountain Merger in its latest filing included additional disclousres on its pending perger with Billtrust. The move follows the SPAC’s receipt of a stockholder letter “claiming certain allegedly material omissions in its proxy statement/consent solicitation statement/prospectus in connection with the business combination.”
Billtrust provides B2B accounts receivable solutions. If shareholders approve, the transaction would give Billtrust pro forma equity of $1.5 billion.
The SPAC said it was adding the disclosures to avoid the nuisance, cost and distraction of possible litigation. Read more.
