0000000000-20-008630.txt : 20201022 0000000000-20-008630.hdr.sgml : 20201022 20200914155824 ACCESSION NUMBER: 0000000000-20-008630 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20200914 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: Paya Holdings Inc. CENTRAL INDEX KEY: 0001819881 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 852199433 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 2929 ARCH STREET STE 1703 CITY: PHILADELPHIA STATE: PA ZIP: 19104 BUSINESS PHONE: (484) 459-3476 MAIL ADDRESS: STREET 1: 2929 ARCH STREET STE 1703 CITY: PHILADELPHIA STATE: PA ZIP: 19104 FORMER COMPANY: FORMER CONFORMED NAME: FINTECH ACQUISITION CORP III PARENT CORP DATE OF NAME CHANGE: 20200731 PUBLIC REFERENCE ACCESSION NUMBER: 0001213900-20-020235 LETTER 1 filename1.pdf begin 644 filename1 M)5!$1BTQ+C4*)>+CS],*,2 P(&]B:@H\/"]4>7!E+UA/8FIE8W0O0V]L;W)3 M<&%C92]$979I8V5',Z%$;3 BU,"VEA6J % M6J %6J %6J %6J %6O ]*WOEK(,D*\X#9H:[]P]6<&19EAU+^GP>RR(B(B(B M(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B+_-A\?'^_O[V]O;Z^OKR\' MGI^?GP[$AY="%(AB43AV^=.M%A$1$1$1$9$?2,H4S\_/CX^/]_?WOP[<'=E- MR6+L]?OW[ZCAZ>GI]?5504-$1$1$1$1$+N;M[>WIZ>GAX6&_WS<"Q:]?O^[O M[^.KQW.(\K]__VZJBLJ1,EY>7M0Q1$1$1$1$1&3"Q\<'QA6_?__&K *98K_? 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III Parent Corp. c/o FinTech Acquisition Corp. III 2929 Arch Street, Suite 1703 Philadelphia, PA 19104-2870 Re: FinTech Acquisition Corp. III Parent Corp. Amendment No. 1 to Registration Statement on Form S-4 Filed September 4, 2020 File No. 333-240410 Dear Mr. McEntee: We have reviewed your amended registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to these comments, we may have additional comments. Unless we note otherwise, our references to prior comments are to comments in our August 31, 2020 letter. Amendment No. 1 to Registration Statement on Form S-4, filed September 4, 2020 Risk Factors Risks Relating to Paya s Business "We rely on bank sponsors . . .", page 30 1. We note your response to comment 4, including the following: "Although the Company does not believe that Paya is substantially dependent on any of these contracts, it does feel it is appropriate to highlight the discretion available to the bank sponsors in these contracts and the possibility that the termination of a sponsorship could have an adverse impact on the Company s business due to the need to transition James McEntee FinTech Acquisition Corp. III Parent Corp. September 14, 2020 Page 2 services to an alternative provider. If any of these contracts were terminated, the Company believes it would be able to enter into alternative arrangements, although the Company may not be able to procure terms of an equal or more advantageous nature. Additionally, each of these contracts have wind down and de-conversion periods, which the Company believes would allow sufficient time for the Company to replace any of the aforementioned sponsors during such de-conversion periods. The Company is unable to predict with any certainty which terms might change in such alternative arrangements." To provide investors with context regarding the importance of these agreements to Paya, please amend your disclosure to include the substance of your response, quoted above. Proposal No. 1 The Business Combination Proposal Background of the Merger, page 77 2. We note your response to comment 9 and your amended disclosure throughout this section; however, your amended disclosure is not completely responsive to our comment. Please amend your disclosure to discuss the negotiations surrounding the percentages held in the combined company by each party, including the Company, Seller, and Blocker Seller. Proposal No. 2 The Charter Proposals Vote Required for Approval, page 102 3. We note your response to comment 16, and your amended disclosure on pages 100 and 102 of your filing. However, your response and amended disclosure are not completely responsive to our comment. Please consider unbundling the proposals into separate proposals so as to allow shareholders to vote separately on material matters, or tell us why you do not believe you are required to do so. Please refer to Rule 14a-4(a)(3) of Regulation 14A, as well as Question 201.01 of the Division s Exchange Act Rule 14a- 4(a)(3) Compliance and Disclosure Interpretations. Information About Paya Company Overview, page 134 4. We note your response to comment 19 that you "revised the disclosure on page 134 of the Draft Amendment to disclose the Company s basis for concluding that Paya is a leading FirstName LastNameJames McEntee platform," but we were unable to find this revised disclosure. Please disclose the measure Comapany NameFinTech by which Acquisition you determined Corp. that Paya is III Parent Corp. a "leading platform." For example, disclose whether September Paya Page 14, 2020 leads2its competitors by market share, transaction volume, etc. FirstName LastName James McEntee FirstName LastNameJames McEntee FinTech Acquisition Corp. III Parent Corp. Comapany 14, September NameFinTech 2020 Acquisition Corp. III Parent Corp. September Page 3 14, 2020 Page 3 FirstName LastName Please contact Katherine Bagley at (202) 551-2545 or Lilyanna Peyser at (202) 551- 3222 with any questions. Sincerely, Division of Corporation Finance Office of Trade & Services cc: Derick S. Kauffman