Mergers & Acquisitions
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Our M&A lawyers are among the most experienced and effective in the world. We represent many of the world's largest publicly traded and privately held companies, as well as leading private equity firms, financial advisors and other financial institutions and investors on their most important mergers, acquisitions and takeover transactions.
North Mountain Merger Corp. SPAC to Combine With Corcentric in $1.2 Billion Deal
- Client News
- December 10, 2021
Paul, Weiss is advising North Mountain Merger Corp., a special purpose acquisition company (SPAC), in its business combination with Corcentric, a leading provider of payments, accounts payable and accounts receivable technology to enterprise and middle-market companies. Upon completion of the transaction, Corcentric will become a publicly listed company called Corcentric Inc. with an implied pro forma enterprise value of approximately $1.2 billion.
The transaction is expected to generate approximately $182 million in gross proceeds, made up of North Mountain’s approximately $132 million of cash held in trust and $50 million of fully committed private investment in public equity (PIPE) financing from anchor investors, including Wellington Management and Millais Limited, an affiliate of the sponsor. The deal is expected to close in the second quarter of 2022, subject to customary closing conditions and regulatory approvals.
The Paul, Weiss team includes corporate partners Jeffrey Marell, Raphael Russo, Michael Vogel and David Tarr and counsel John Godfrey and Jason Tyler; executive compensation partner Lawrence Witdorchic; tax partner David Mayo; intellectual property partner Charles Googe and counsel Michael Kurzer; real estate partner Salvatore Gogliormella; antitrust counsel Yuni Sobel and Marta Kelly; environmental counsel William O'Brien; and litigation counsel Steven Herzog.