Bill.com Raises $1.7B Via Upsized Equity, Debt Offerings

Bill.com Holdings BILL priced 4.4 million shares at $272 per share to raise $1.2 billion in an upsized secondary public offering.
The offer price implies a 0.8% discount to Bill.com's September 21 closing price of $274.14. The offering proceeds will serve general corporate purposes.
Bill.com previously aimed to sell stock worth $1 billion.
The underwriters have a 30-day option to purchase additional shares up to 0.66 million.
Bill.com also priced the $500 million 0% senior convertible notes due 2027 in a private institutional placement.
The initial conversion price of $414.80 represents a premium of 52.5% on the offer price of $272.
Bill.com forged capped call transactions with the initial purchasers of the notes to reduce the potential dilution on the note conversion.
The offering proceeds will help to serve the capped call transactions and general corporate purposes.
Price Action: BILL shares traded higher by 1.38% at $277.91 on the last check Wednesday.