Great Hill Partners and VersaPay Corporation Announce Closing of Acquisition

February, 21, 2020

Boston, MA and Toronto, ON – February 21, 2020 – Great Hill Partners (“Great Hill”), a leading growth-oriented private equity firm, and VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a market leading provider of a SaaS accounts receivable, invoicing and integrated payments technology platform serving B2B customers, today announced the successful completion of the previously announced acquisition of VersaPay by an affiliate of Great Hill, pursuant to a statutory plan of arrangement under the Canada Business Corporations Act (the “Arrangement”). Under the Arrangement, each VersaPay shareholder will receive cash consideration of C$2.70 for each common share held, valuing VersaPay’s total equity at approximately C$126 million on a fully diluted basis. VersaPay is a leading provider of cloud-based invoice-to-cash...

VersaPay Shareholders Overwhelmingly Approve Proposed Arrangement With An Affiliate of Great Hill Partners

February, 14, 2020

TORONTO, Feb. 14, 2020 /CNW/ – VersaPay Corporation (TSXV: VPY) (the “Company” or “VersaPay“), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that at a special meeting of its shareholders (the “Meeting“) held today, its shareholders (“Shareholders“) overwhelmingly approved the proposed acquisition by 1233518 B.C. Ltd., an affiliate of Great Hill Partners, of all of the issued and outstanding common shares of the Company (“VersaPay Shares“) by way of a statutory plan of arrangement under the Canada Business Corporations Act (the “Arrangement“). Pursuant to the Arrangement, each Shareholder will receive cash consideration of C$2.70 for each VersaPay Share held. Of the votes cast at the Meeting, a total of 25,221,117 VersaPay Shares were...

Glass Lewis Recommends Shareholders Of VersaPay Vote For The Proposed Arrangement With An Affiliate Of Great Hill Partners

February, 3, 2020

Toronto, ON – February 3, 2020 – VersaPay Corporation (TSXV: VPY) (the “Company” or “VersaPay“), is pleased to announce that Glass Lewis & Co. LLC (“Glass Lewis”), a leading independent proxy advisory firm, has recommended that shareholders of VersaPay (the “Shareholders”) vote FOR the proposed acquisition by 1233518 B.C. Ltd., an affiliate of Great Hill Partners, of all of the issued and outstanding common shares of the Company (“VersaPay Shares”) by way of a statutory plan of arrangement under the Canada Business Corporations Act (the “Arrangement”) for consideration of $2.70 for each VersaPay Share held. In making its recommendation that Shareholders vote FOR the Arrangement, Glass Lewis stated: “Given the Company’s capital restraints and considering that the board appears...

Leading Independent Advisory Firm ISS Recommends Shareholders of VersaPay Vote For The Proposed Arrangement With An Affiliate of Great Hill Partners

January, 29, 2020

Toronto, ON – January 29, 2020 – VersaPay Corporation (TSXV: VPY) (the “Company” or “VersaPay”), is pleased to announce that Institutional Shareholder Services Inc. (“ISS”), one of the leading independent proxy advisory firms that provides voting recommendations to institutional investors, has recommended that shareholders of VersaPay (the “Shareholders”) vote FOR the proposed acquisition by 1233518 B.C. Ltd., an affiliate of Great Hill Partners, of all of the issued and outstanding common shares of the Company (“VersaPay Shares”) by way of a statutory plan of arrangement under the Canada Business Corporations Act (the “Arrangement”). ISS has recommended that Shareholders vote FOR the Arrangement resolution stating: “The transaction will allow shareholders to cash out of their investment at a significant premium...

VersaPay Corporation Mails Special Meeting Materials In Connection With Proposed Arrangement With An Affiliate of Great Hill Partners

January, 17, 2020

Toronto, ON – January 17, 2020 – VersaPay Corporation (TSXV: VPY) (the “Company” or “VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, announced today that it has commenced mailing materials to the shareholders of VersaPay (the “Shareholders”), including the management information circular of the Company dated January 15, 2020 (the “Circular”), for the special meeting of VersaPay Shareholders (the “Meeting”) to be held on February 14, 2020 in connection with the proposed acquisition by 1233518 B.C. Ltd. (the “Purchaser”), an affiliate of Great Hill Partners (“Great Hill”), of all of the issued and outstanding common shares of the Company (“VersaPay Shares”) by way of a...

Great Hill Partners to Acquire VersaPay Corporation – Customer FAQs

December, 13, 2019

To our valued Customers and Partners: Today we have announced a definitive agreement for the acquisition of VersaPay by Great Hill Partners, a private equity firm based in Boston. The following FAQ will provide more detail which I trust will be helpful. If you have additional questions, feel free to connect with your primary contact at VersaPay. They are ready and waiting to speak with you! We are excited about this next stage of our journey together as we pursue our big goal to change the way thousands and thousands of companies do business together. Best regards, Craig O’Neill CEO VersaPay Corporation 1. What does this announcement mean? Great Hill Partners, a US private investor, has agreed to acquire...

Great Hill Partners Makes All Cash Offer to Acquire VersaPay Corporation

December, 13, 2019

Toronto, ON – December 13, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”) and Great Hill Partners (“Great Hill”), a leading growth-oriented private equity firm, are pleased to announce that the Company and an affiliate of Great Hill have entered into a definitive arrangement agreement (the “Arrangement Agreement”) whereby Great Hill will indirectly acquire all of the issued and outstanding common shares of the Company (“VersaPay Shares”) by way of a statutory plan of arrangement under the Canada Business Corporations Act (the “Transaction”). Under the terms of the Arrangement Agreement, each VersaPay shareholder (the “VersaPay Shareholders”) will receive cash consideration of C$2.70 for each VersaPay Share held (the “Consideration”), valuing VersaPay’s total equity at approximately C$126 million...

VersaPay to Present at the Citi 2019 Financial Technology Conference

November, 13, 2019

New York, NY ; Toronto, ON – November 13, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, will participate today on a panel at the Citi 2019 Financial Technology Conference in New York City. During the conference VersaPay CEO Craig O’Neill will participate on a panel of distinguished speakers discussing AR automation and the digitization of business payments. O’Neill will discuss the need for businesses to drive transformation and enable their organizations to operate online to better serve their customers and remain competitive in their respective markets. The conference hosts investment firms and investors as well as fintechs from...

VersaPay Announces Dream Office REIT as Newest CRE Client

November, 12, 2019

Toronto, ON – November 12, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that it has added Dream Office REIT (“Dream Office”) as its newest commercial real estate client. “With our real estate portfolio expanding in Canada and the US, our objective is to enhance our tenants’ experience and provide them with a convenient web-based and mobile portal where they can access their account, retrieve invoices, communicate and make secure electronic payments,” stated Joanne Leitch, Vice President, Property and Operations Accounting at Dream Office. “We want to create efficiencies by eliminating manual processes, minimize errors...