VC-Backed Fintech Bill.com Prices Upsized $535M Offering
Law360 (June 11, 2020, 1:44 PM EDT) — Financial technology company Bill.com said Thursday it priced an upsized, $535 million follow-on offering steered by Fenwick & West LLP in which Bill.com and some of its venture capital backers will sell off stock.
California-based Bill.com priced 7.2 million shares at $74.25 apiece, an increase from the original plan to sell 6 million shares. Bill.com is selling 3.25 million of the shares on offer, while existing investors are selling the remaining 3.95 million, the announcement said.
The company could raise additional funds from the offering if the underwriters use their option to purchase up to nearly 1.1 million additional shares, the…