Tuesday, January 12, 2021

Equity Corporate Actions Alert #2021 - 3
Information Regarding the Business Combination of South Mountain Merger Corp. (SMMC/U/W) and Factor Systems, Inc. (d/b/a Billtrust)

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The business combination of South Mountain Merger Corp. (SMMC/U/W) and Factor Systems, Inc. (d/b/a Billtrust) was completed today, January 12, 2021. As a result the combined company will be named BTRS Holdings Inc, the company's Class A Common Stock (SMMC) and Warrants (SMMCW) will undergo a name, symbol, and CUSIP number change and the company's Units (SMMCU) will be suspended from trading. In conjunction with these changes the Class 1 Common Stock will have a market tier change to Nasdaq Global Select and the Warrant will remain on the Nasdaq Capital Market. These actions will become effective on Wednesday, January 13, 2021.

The details of the name, symbol, & CUSIP changes are follows:

Current Company Name & Issue Type: South Mountain Merger Corp. Class A Common Stock
New Company Name & Issue Type: BTRS Holdings Inc. Class 1 Common Stock
Current CUSIP: 838884104
New CUSIP: 11778X104
Current Symbol: SMMC
New Symbol: BTRS
Marketplace Effective Date: January 13, 2021

Current Company Name & Issue Type: South Mountain Merger Corp. Warrant
New Company Name & Issue Type: BTRS Holdings Inc. Warrant expiring 1/12/2026
Current CUSIP: 838884112
New CUSIP: 11778X112
Current Symbol: SMMCW
New Symbol: BTRSW
Marketplace Effective Date: January 13, 2021

If you would like to register as a market maker in BTRS or BTRSW, contact Nasdaq Trading Services at +1 212 231 5100.



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