XML 145 R119.htm IDEA: XBRL DOCUMENT v3.21.2
Business Combinations - Narrative (Q3) (Details)
$ / shares in Units, $ in Thousands
3 Months Ended 9 Months Ended
Jan. 12, 2021
USD ($)
trading_day
$ / shares
shares
Jan. 11, 2021
shares
Sep. 30, 2021
USD ($)
$ / shares
shares
Mar. 31, 2021
shares
Sep. 30, 2021
USD ($)
$ / shares
shares
Sep. 30, 2021
USD ($)
$ / shares
shares
Sep. 30, 2020
USD ($)
Dec. 31, 2020
USD ($)
$ / shares
shares
Dec. 31, 2019
$ / shares
shares
Reverse Recapitalization [Line Items]                  
Reverse recapitalization, aggregate consideration | $ $ 1,190,000                
Cash electing shares of Legacy Billtrust shareholders | $ 90,061                
Reverse recapitalization, equity interests issued and issuable | $ $ 1,099,000                
Reverse recapitalization, equity interests issued and issuable, number of shares (in shares) 109,944,090                
Reverse recapitalization, equity interests issuable, number of shares (in shares) 15,175,967                
Recapitalization conversion ratio 7.2282662                
Stock repurchased during period (in USD per share) | $ / shares $ 10.00                
Common stock, shares outstanding (shares) 145,266,000                
Warrants outstanding (shares) 12,500,000                
Number of shares exercisable by each warrant (shares) 1                
Warrants exercise price (in USD per share) | $ / shares $ 11.50             $ 1.91  
Stock converted conversion ratio 1                
Common stock, par value (USD per share) | $ / shares $ 0.0001                
Common and preferred stock, shares authorized (shares) 575,000,000                
Preferred stock, shares authorized (shares)     10,000,000   10,000,000 10,000,000   10,000,000 10,000,000
Preferred stock, par value (in USD per share) | $ / shares $ 0.0001   $ 0.0001   $ 0.0001 $ 0.0001   $ 0.0001 $ 0.0001
Number of shares issued (shares) 20,000,000                
Aggregate purchase price | $ $ 200,000                
Stock repurchased during period (shares) 9,005,863                
Warrants exercised and converted (in shares) 85,004                
Contingent consideration liability, shares (in shares) 12,000,000                
Issuance and vesting of Earnout Shares (shares)       10,917,736          
Amount paid for tax withholding | $         $ 4,367 $ 4,013 $ 0    
Offering costs | $               $ 2,845  
Restricted stock units                  
Reverse Recapitalization [Line Items]                  
Number of RSU's granted in period (in shares)         856,000        
Number of shares of common stock withheld from employees for tax withholdings (in shares)         29,443        
Amount paid for tax withholding | $     $ 400            
Share price (USD per share) | $ / shares $ 16.80                
Earnout Restricted Stock Units                  
Reverse Recapitalization [Line Items]                  
Number of RSU's granted in period (in shares)         836,208        
Amount paid for tax withholding | $         $ 4,000        
Earnout Shares                  
Reverse Recapitalization [Line Items]                  
Amount paid for tax withholding | $           4,013      
Earnout Shares | Restricted stock units                  
Reverse Recapitalization [Line Items]                  
Share price (USD per share) | $ / shares $ 16.80                
Risk free rate 0.50%                
Volatility rate 42.00%                
First Earnout                  
Reverse Recapitalization [Line Items]                  
Contingent consideration liability, shares (in shares) 6,000,000                
Contingent consideration liability, stock price trigger (USD per share) | $ / shares $ 12.50                
Contingent consideration liability, threshold trading days | trading_day 20                
Contingent consideration liability, threshold trading day period 30 days                
Second Earnout                  
Reverse Recapitalization [Line Items]                  
Contingent consideration liability, shares (in shares) 6,000,000                
Contingent consideration liability, stock price trigger (USD per share) | $ / shares $ 15.00                
Contingent consideration liability, threshold trading days | trading_day 20                
Contingent consideration liability, threshold trading day period 30 days                
Sponsor Vesting Shares                  
Reverse Recapitalization [Line Items]                  
Amount paid for tax withholding | $           $ 0      
Billtrust [Member]                  
Reverse Recapitalization [Line Items]                  
Common stock, par value (USD per share) | $ / shares $ 0.001                
South Mountain                  
Reverse Recapitalization [Line Items]                  
Warrants cancelled (in shares) 6,954,500                
Stock repurchased during period (shares)   2,000              
South Mountain | Common Shareholders                  
Reverse Recapitalization [Line Items]                  
Common stock, shares outstanding (shares)   25,000,000              
Common Stock | Share-based Payment Arrangement                  
Reverse Recapitalization [Line Items]                  
Number of shares of common stock withheld from employees for tax withholdings (in shares)         246,056        
Common Class I                  
Reverse Recapitalization [Line Items]                  
Common stock, shares outstanding (shares) 138,728,373   153,391,000   153,391,000 153,391,000   92,760,000  
Common stock, par value (USD per share) | $ / shares     $ 0.0001   $ 0.0001 $ 0.0001   $ 0.0001  
Common stock, shares authorized (shares)     538,000,000   538,000,000 538,000,000   538,000,000  
Common stock, shares issued (shares)     153,391,000   153,391,000 153,391,000   92,760,000  
Common Class I | Prior South Mountain Shareholders                  
Reverse Recapitalization [Line Items]                  
Common stock, shares outstanding (shares) 2,375,000                
Common Class I | South Mountain | Common Shareholders                  
Reverse Recapitalization [Line Items]                  
Common stock, shares outstanding (shares)     2,375,000   2,375,000 2,375,000      
Common Class I | South Mountain | Common Shareholders | First Earnout                  
Reverse Recapitalization [Line Items]                  
Common stock, shares outstanding (shares)     1,187,500   1,187,500 1,187,500      
Common Class I | South Mountain | Common Shareholders | Second Earnout                  
Reverse Recapitalization [Line Items]                  
Common stock, shares outstanding (shares)     1,187,500   1,187,500 1,187,500      
Common Class 2                  
Reverse Recapitalization [Line Items]                  
Common stock, shares outstanding (shares) 6,537,735   5,223,000   5,223,000 5,223,000   8,197,000  
Common stock, par value (USD per share) | $ / shares $ 0.0001   $ 0.0001   $ 0.0001 $ 0.0001   $ 0.0001  
Common stock, shares authorized (shares)     27,000,000   27,000,000 27,000,000   27,000,000  
Common stock, shares issued (shares)     5,223,000   5,223,000 5,223,000   8,197,000