As payments administrator, SRS Acquiom has paid over $130 billion in payments to over 145,000 shareholders. Our modern, payments technology has made the process faster and more efficient for our clients. As a result, below are a few success stories we have compiled throughout our experience.
ISSUE: A large group of shareholders held a variety of security types each requiring specific pre-closing document solicitation and collection.
RESULT: SRS Acquiom successfully solicited 200 securityholders, with eight separate groups of securityholder types, for a total of 21 unique solicitation documents all within 24 hours of the documents being finalized.
ISSUE: Closing and post-closing payments needed to be paid to a large number of foreign shareholders.
RESULT: SRS Acquiom successfully paid 403 foreign shareholders within 24 hours of shareholders submitting final paperwork, including all appropriate tax forms.
Document Solicitation to Shareholders
ISSUE: A large pool of shareholders required solicitation and tracking for all pre-closing shareholder documents.
RESULT: SRS Acquiom successfully solicited 1,097 shareholders’ letters of transmittal in 24 hours, through our Clearinghouse™ technology.
ISSUE: A returning client needed pre-closing solicitation and payments administration services two years after the close of a previous transaction.
RESULT: Having secured KYC documentation on a previous transaction, SRS Acquiom solicited a Tender Offer to all equity holders for one month, provided daily reporting for all holder responses, and initiated payment within 24 hours of receiving the final capitalization table.
Collect Shareholder Consents
ISSUE: There was a short period of time to collect shareholder consent to a transaction with a large shareholder base lacking strong majority holders.
RESULT: SRS Acquiom solicited consent to a share purchase and received majority consent within two weeks, which was within a month of the deadline.
ISSUE: Two years past closing, a final release required compensation payments to be paid through the buyer’s payroll, including all necessary tax forms.
RESULT: SRS Acquiom solicited shareholders and paid them within 5 business days, and completed all the necessary tax forms.
ISSUE: Information was not provided to complete proper tax reporting prior to time of release.
RESULT: To avoid delaying the release process,
SRS Acquiom completed a full tax audit after release to ensure all information required was collected in a timely manner prior to the tax filing deadlines.
Payments & Escrow
ISSUE: A Buyer required payments administration and escrow services for an M&A transaction and didn’t want to deal with the slow KYC process of its traditional bank.
RESULT: By securing the combined services of payments and escrow, SRS Acquiom was able to save time and streamline the process of soliciting shareholders for all required documents. As a result, final payments to all stockholders were completed within 24 hours of closing.