South Mountain Merger Corp. Pricing Their $200 Million SPAC Wednesday

IPO Ahead

South Mountain Merger Corp. Pricing Their $200 Million SPAC Wednesday

Jun 18, 2019 INTEL by Kristi Marvin

South Mountain Merger Corp. (SMMCU), filed their 8-a12b and their CERT today, indicating they are getting ready to price their $200 million fintech-focused SPAC, or more specifically, “…on businesses that will benefit from the rapidly evolving payment ecosystem…”.  South Mountain is being led by Charles Bernicker, the former CFO of CardConnect, which merged with FinTech Acquisition Corp I (another SPAC), back in July of 2016, and the combined company was ultimately bought by First Data in 2017 for $15.00 a share.

Additionally, Mr. Bernicker ALSO served as a consultant to the International Money Express management team (NASDAQ: IMXI) on their merger with FinTech Acquisition Corp. II, in July 2018.  As a result, Mr. Bernicker has experience with two very successful SPAC transactions.  Albeit, from the vantage point of the other side of the negotiating table.

This SPAC will make it number 27 for 2019’s year-to-date count and push total gross proceeds over $6 billion.  Stay tuned for any surprise up-sizes or changes to terms.

Summary of terms below:

South mountain terms