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Sept. 21, 2021, 7:45 a.m. EDT

Bill.com stock drops after $1 billion stock and $500 million convertible debt offerings

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By Tomi Kilgore

Shares of Bill.com Holdings Inc. /zigman2/quotes/215406166/composite BILL -26.69% dropped 5.6% in premarket trading Tuesday, after the provider of software aimed at simplifying back-office operations announced the offering of $1 billion worth of common stock to the public and $500 million in convertible debt to qualified institutional investors. The debt, which are senior notes due 2027, can be converted into common stock, cash or a combination of both, at the election of the company. For the common stock offering, which represents about 3.7% of Bill.com's market capitalization of $26.9 billion as of Monday's close, the company plans to use the proceeds for general corporate purposes, which could include potential acquisitions. Bill.com's stock has soared 56.6% over the past three months through Monday, and closed at a record $297.14 on Sept. 3. In comparison, the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.04% has gained 3.2% the past three months, and closed at a record on Sept. 2.

/zigman2/quotes/215406166/composite
US : U.S.: NYSE
$ 94.51
-34.40 -26.69%
Volume: 21.53M
Feb. 3, 2023 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$9.99 billion
Rev. per Employee
$377,727
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/zigman2/quotes/210599714/realtime
US : S&P US
4,136.48
-43.28 -1.04%
Volume: 0.00
Feb. 3, 2023 4:54p
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