On January 12, 2021 BTRS Holdings Inc., a Delaware corporation, consummated the previously announced mergers pursuant to that certain Business Combination Agreement, dated October 18, 2020, by and among South Mountain, BT Merger Sub I Inc., a Delaware corporation and a wholly owned subsidiary of South Mountain, BT Merger Sub II, LLC, a Delaware limited liability company and a wholly owned subsidiary of South Mountain, and Factor Systems Inc. (d/b/a Billtrust), a Delaware corporation. The Company’s stockholders approved the Business Combination at a special meeting of stockholders held on January 12, 2021. Effective as of the Effective Time, in connection with the Business Combination, the Board appointed Mark Shifke to serve as Chief Financial Officer.