Bill.com Announces Closing of $1.38 Billion of Common Stock, Including Full Exercise of Underwriters’ $180.0 Million Option to Purchase Additional Shares
September 24 2021 - 4:05PM
Business Wire
Bill.com Holdings, Inc. (NYSE: BILL) (“Bill.com”) today
announced that it has closed its public offering (the “offering”)
of 5,073,529 shares of its common stock (the “shares”) at a price
to the public of $272.00 per share, which includes the exercise in
full of the underwriters’ option to purchase an additional 661,764
shares of its common stock.
Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan
Securities LLC and Morgan Stanley & Co. LLC acted as joint
book-running managers for the offering. Jefferies LLC, Deutsche
Bank Securities Inc., Barclays Capital Inc. and KeyBanc Capital
Markets Inc. acted as bookrunners for the offering. Canaccord
Genuity LLC, Needham & Company, LLC, Nomura Securities
International, Inc., Oppenheimer & Co. Inc., Piper Sandler
& Co. and William Blair & Company, L.L.C. acted as
co-managers for the offering.
The offering was made pursuant to Bill.com’s automatic shelf
registration statement (which includes a base prospectus), which
Bill.com filed with the Securities and Exchange Commission (the
"SEC") on September 21, 2021 and which automatically became
effective upon filing, and a preliminary prospectus supplement
related to the offering (together with such base prospectus, the
"preliminary prospectus") which Bill.com also filed with the SEC on
September 21, 2021. These documents may be obtained for free by
visiting EDGAR on the SEC's website at www.sec.gov. Alternatively,
copies may be obtained from Goldman Sachs & Co. LLC, Attention:
Prospectus Department, 200 West Street, New York, NY 10282, by
email at Prospectus-ny@ny.email.gs.com or by phone at
1-866-471-2526; from BofA Securities, Attention: Prospectus
Department or by email at dg.prospectus_requests@bofa.com; from
J.P. Morgan Securities LLC, Attention: J.P. Morgan Securities LLC,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, by email at prospectus-eq_fi@jpmchase.com, or
by phone at 1-866-803-9204; or from Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, New York 10014.
Bill.com estimates that the net proceeds from the offering will
be approximately $1.34 billion, after deducting the underwriters’
discount and estimated offering expenses payable by Bill.com.
Bill.com intends to use the net proceeds of the offering for
general corporate purposes, which may include working capital,
capital expenditures and potential acquisitions and strategic
transactions. From time to time, Bill.com evaluates potential
acquisitions and strategic transactions involving businesses,
technologies or products. However, Bill.com has not designated any
specific uses and has no current agreements with respect to any
acquisitions or strategic transactions.
This announcement is neither an offer to sell nor a solicitation
of an offer to buy any of these securities and shall not constitute
an offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale is unlawful. The securities being
offered have not been approved or disapproved by any regulatory
authority, nor has any such authority passed upon the accuracy or
adequacy of the registration statement, the base prospectus
contained therein or the preliminary prospectus supplement.
Cautionary Statement Regarding Forward-Looking Statements
This press release may include forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Words such as "anticipate," "believe," "estimate,"
"expect," "intend," "should," "will" and variations of these terms
or the negative of these terms and similar expressions are intended
to identify these forward-looking statements. Forward-looking
statements in this press release may include but are not limited to
statements regarding the expected use of net proceeds of the
offering. Factors that may contribute to such differences include,
but are not limited to, risks related to prevailing market and
other general economic, industry or political conditions in the
United States or internationally, the impact of COVID-19, and the
expected use of the net proceeds from the offering, which could
change as a result of market conditions. The foregoing list of
risks and uncertainties is illustrative, but is not exhaustive. For
information about other potential factors that could affect
Bill.com’s business and financial results, please review the “Risk
Factors” described in Bill.com’s registration statement on Form S-3
and the preliminary prospectus and in Bill.com’s other filings with
the SEC, including Bill.com’s Annual Report on Form 10-K for the
fiscal year ended June 30, 2021. These forward-looking statements
speak only as of the date hereof or as of the date otherwise stated
herein. Bill.com disclaims any obligation to update these
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210924005516/en/
IR Contact: Karen Sansot ksansot@hq.bill.com
Press Contact: Oriana Branon obranon@hq.bill.com
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