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Shareholders will receive $9.50 per share in cash upon Billtrust’s transition to a private company, a 64% premium above the September 27 closing price of $5.77. The company’s stock has remained relatively steady in recent years, hitting a high of around $19 a share in February 2021 before bottoming out at $4.51 in June.
“This transaction marks the beginning of an exciting new chapter for Billtrust, our customers and employees while providing shareholders an immediate and substantial cash value with a compelling premium,” Lane said in a statement. “We believe business-to-business payments and accounts receivable continue to be ripe for massive disruption and innovation, and our partnership with EQT will provide us with greater resources and flexibility to build on our leadership position.”
