- Bill.com Holdings (NYSE:BILL) dips 3.44% in post-market action after the company announces to offer $750M principal amount of convertible senior notes due 2025 to institutional buyers.
- The company also grants the initial purchasers of the notes an option to purchase up to additional $112.5M notes.
- Net proceeds will be used to pay the cost of Bill.com's capped call transactions, which are expected generally to reduce the potential dilution to the common stock upon any conversion of the notes. Any remaining proceeds will be used for general corporate purposes.
- Previously: Bill.com launches new bill payment service for wealth management firms (Nov. 17)