Corcentric and North Mountain Merger announced that they will host a virtual analyst day April 7, beginning at 10 a.m. ET. The presentation is expected to conclude around 12 p.m.
The event will feature presentations from Corcentric executives, including Founder, CEO, and Chairman Douglas W. Clark, President and COO Matt Clark, CFO Tom Sabol, and CRO Fritz Smith, and North Mountain CEO Chuck Bernicker.
Corcentric is a global provider of payments, procurement, accounts payable, and accounts receivable solutions to enterprise and middle-market companies.
Corcentric is expected to have an implied pro forma enterprise value of approximately $1.2 billion if the deal with North Mountain is approved by the SPAC’s shareholders..
The transaction is expected to deliver $182 million in gross proceeds, including the SPAC’s $132 million in trust (assuming no redemptions) and a $50 million fully-committed PIPE from anchor investors, including Wellington Management and Millais Limited, an affiliate of the sponsor.
Corcentric’s existing shareholders would own approximately 81% of the post-combination company. Bregal Sagemount, a growth equity firm, will continue as a shareholder. Existing Corcentric equity holders also have the potential to receive an earnout of additional shares of common stock if certain stock price targets are met.
A live webcast and replay of the presentation will be available following the virtual analyst day on Corcentric’s investor relations website at https://www.corcentric.com/investors/ and on North Mountain’s website at https://northmountainmerger.com/. Read more.
