Bill.com’s follow-on public offering of 7 million shares at $74.53 per share will dwarf the amount the payments company raised via its initial public offering. The proceeds of $535 million top the December IPO which netted the company $225.5 million.

Both offerings were expanded from the initial plans., with Bill.com selling 11,297,058 shares at $22 per share (including the underwriter’s overallotment) durin the IPO. The company added 1 million shares from its original plan for the IPO, whose original price estimate was $16 per share to $18 per share

The follow-on offering is also 1 million shares higher than the original plan with underwriters given the option to purchase an additional 1,080,000 sharesill.com is offering 3.25 million shares which will bring estimated proceeds of  $231,660,000 while selling shareholders—all outside investment firms—are offering 3.95 million, with estimated proceeds of  $281,556,000; all before expenses., Bill.com will receive about  $307.3 million, if the underwriter’s exercise their option.

The company says possible use of proceeds include product development, general and administrative matters, capital expenditures and  possible M&A activity.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Last modified on Monday, 15 June 2020
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