Bregal Sagemount-backed Corcentric and North Mountain Merger terminated a $1.2bn merger.

Bregal Sagemount-backed Corcentric, a provider of payments, accounts payable, and accounts receivable technology, and North Mountain Merger, a SPAC, terminated a $1.2bn merger. PIPE investors included Wellington Management and Millais. “Corcentric is a leading B2B commerce platform focused on transforming how businesses purchase, pay, and get paid, with a proven track record of growth and strong momentum. We are disappointed that market conditions resulted in the termination of our proposed merger. Corcentric is a unique company with a strong management team, and we wish them continued success," Chuck Bernicker, North Mountain CEO. On August 29, 2022, North Mountain Merger and Corcentric mutually terminate merger agreement.