Benzinga | Jul 1, 2021 07:46AM EDT

BTRS Prices Secondary Equity Offering By Selling Stakeholder At 5.8% Discount

* BTRS Holdings Inc's (NASDAQ:BTRS) selling shareholders priced 9 million shares at $12.25 per share in a secondary public offering.

* The offer price signifies a 5.8% discount to the BTRS' Tuesday closing price of $13.01.

* The estimated gross proceeds are $110.25 million.

* BTRS will not receive any of the proceeds from the offering.

* The underwriters have a 30-day option to purchase additional shares up to 1.35 million.

* Price action: BTRS shares closed lower by 3.07% at $12.62 on Wednesday.