South Mountain Merger Corp.
announcedU=S+W/2W=S@11.50
BTRS
Capital Structure & Economics
Trust Size$200,000,000
Unit Price$10.00
Warrant Coverage1/2
Sponsor Promote20%
Implied Equity Architecture
Capital Allocation Baseline
Trust (100.0%)
Implied Dilution Drag
50% Warrant Inclusion| Public Trust Allocation | $200,000,000 |
| Sponsor At-Risk Capital | N/A |
| Total Underwriting Discount | N/A |
| Trust Per Unit (Implied) | $10.00 |
| Sponsor Promote Allocation | 20% |
Deal Lifecycle
IPO PricedMay 31, 2019
Target AnnouncedSep 28, 2022
Maturation Wall
N/A
Announced Target / M&A
- Target CompanyBilltrust
- SectorCloud-based software and integrated payment processing solutions
- Announced Deal Size$1,300,000,000
- Announcement Date2022-09-28
Board & Officers
- Aaron S. McGowanCEO
- Officer
- Officer
- Flint A. LaneDirector
- Mark ShifkeDirector
- Clare HartDirector
- Robert FarrellDirector
- Lawrence IrvingDirector
- Matt HarrisDirector
- Juli SpottiswoodDirector
- Steven PinadoDirector
- Joe EngDirector
- Director
- Director
Advanced Structuring Terms
| Target Sectors | Cloud-based software and integrated payment processing solutions |
Syndicate & Advisors
Interactive Deal Modeling
Base financial constraints (Trust Size, Warrants, Promote) are pre-loaded into the calculation engines. Proceed to model implied dilution and advisory friction limits.