WILMINGTON, Del., Nov. 7, 2022 (GLOBE NEWSWIRE) — Andrews & Springer LLCA boutique securities class action law firm focused on representing shareholders nationwide announces that another law firm has filed a lawsuit on behalf of shareholders of BTRS Holdings, Inc. (NASDAQGS: BTRS) (a/k/a Billtrust). (“BTRS” or the “Company” or “Billtrust”) for possible wrongdoing by the Company and violations of federal securities laws.

A copy of the complaint may be obtained from the court or Andrews & Springer LLC. If you currently own shares of BTRS and would like to receive additional information and protect your investments for free, please visit us at http://www.andrewsspringer.com/cases-investigations/btrs-merger-class-action-investigation/ or contact Craig J. Springer, Esq. at [email protected], or call toll-free at 1-800-423-6013. You can also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llcTwitter – www.twitter.com/AndrewsSpringer or Facebook- www.facebook.com/AndrewsSpringer for future updates.

On September 28, 2022, the two parties announced the signing of a definitive merger agreement under which EQT will acquire Billtrust in a $1.7 billion merger. As a result of the merger, Billtrust shareholders are expected to receive only $9.50 per share in cash in exchange for each share of Billtrust (the “Merger”). While the company claims that shareholders will receive a premium for their shares, the merger price is 26% below the $13.00 per share price target that Canaccord Genuity set in August 2022, just a month before the merger announcement . The consideration is also below Billtrust’s 52-week high of $11.01 per share.

A BTRS shareholder represented by another law firm has filed a complaint against BTRS for federal securities violations. The complaint was filed in the United States District Court, Southern District of New York, Case No. 1:22-cv-09212 submitted.

Corresponding…