Corcentric, Inc. entered into an agreement to acquire North Mountain Merger Corp. (NasdaqCM:NMMC) from Wellington Management Group LLP, Adage Capital Management, L.P., Millennium Management LLC, The Goldman Sachs Group, Inc. (NYSE:GS), North Mountain LLC and others for approximately $130 million in a reverse merger transaction on December 9, 2021. The combined entity will consist of 89.3 million Corcentric shares, 13.2 million North Mountain Merger shares, 5 million private placement shares and 2.6 million North Mountain Merger sponsor shares. Under the terms of the Transaction, Corcentric's existing shareholders will convert their ownership stakes into equity of the combined company and are expected to own approximately 81% of the post-combination company immediately following the closing of the transaction. Following the closing of the Transaction, the Corcentric executive management team will continue to be led by Founder and Chief Executive Officer Douglas Clark and President and Chief Operating Officer Matthew Clark. Thomas Sabol will serve as Chief Financial Officer and Mark Joyce will serve as the Company's Executive Vice President and Chief Accounting Officer. After the completion of the Business Combination, directors or members of North Mountain's management team who remain with North Mountain may be paid consulting, management or other compensation from New Corcentric.

The transaction is subject to approval of the stockholders of both Corcentric and North Mountain, requisite regulatory approvals, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, the effectiveness of the Registration Statement under the Securities Act of 1933, as amended, the receipt of the approval for listing by the Nasdaq of the North Mountain Common Stock. The Transaction has been unanimously approved by the Boards of Directors of both Corcentric and North Mountain. Transaction is expected to close in the second quarter of 2022. Transaction is expected to close in the second quarter of 2022. As of June 3, 2022, the transaction is expected to close in the third quarter of 2022.

Jeffrey D. Marell, Raphael Russo, David Tarr, John Godfrey, Jason Tyler, Lawrence Witdorchic, David Mayo, Charles Googe, Michael Kurzer, Salvatore Gogliormella, Yuni Sobel, Marta Kelly, William O'Brien, Steven Herzog and Michael Vogel of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisors to North Mountain. Kevin T. Crews, Douglas DiMedio, Abbey Raish, Edwin S. del Hierro, David M. Grenker, Matthew Wood, Michael Krasnovsky, Abigail Lane, Steph Matko and Tamar Donikyan of Kirkland & Ellis LLP acted as legal advisors and J.P. Morgan Securities LLC and William Blair & Company, L.L.C. is acting as financial advisors to Corcentric. Continental Stock Transfer & Trust Company acted as transfer agent to North Mountain Merger. Innisfree M&A Incorporated acted as proxy solicitor to North Mountain Merger. North Mountain has agreed to pay Innisfree a fee of up to $20,000 in connection with the Business Combination. As updates, North Mountain will now pay Innisfree a fee of up to $10,000.

Corcentric, Inc. cancelled the acquisition of North Mountain Merger Corp. (NasdaqCM:NMMC) from Wellington Management Group LLP, Adage Capital Management, L.P., Millennium Management LLC, The Goldman Sachs Group, Inc. (NYSE:GS), North Mountain LLC and others in a reverse merger transaction on August 29, 2022. The parties have mutually agreed to terminate their agreement