Fenwick represented Bill.com (NYSE:BILL), a leading provider of cloud-based software that simplifies, digitizes, and automates complex back-office financial operations for small and midsize businesses, in its follow-on public offering of 8,280,000 shares of its common stock at a public offering price of $74.25 per share, which includes the exercise in full of the underwriters’ option to purchase an additional 1,080,000 shares of its common stock.
Bill.com sold 4,330,000 shares of its common stock in the offering, and selling stockholders sold 3,950,000 shares of Bill.com common stock in the offering. The gross proceeds from this offering to Bill.com were approximately $308.6 million, before deducting underwriting discounts and commissions and other offering expenses payable by Bill.com.
Goldman Sachs & Co. LLC, BofA Securities, Jefferies LLC and KeyBanc Capital Markets acted as joint lead book-running managers for the offering. Wells Fargo Securities also acted as a joint book-running manager. Canaccord Genuity, Needham & Company, Oppenheimer & Co., Piper Sandler and William Blair acted as co-managers for the offering.
More information about the offering can be obtained from Bill.com’s announcement.
The Fenwick transaction team included corporate partners James Evans, Mark Stevens and Dawn Belt, counsel Nicolas H.R. Dumont and associates Chelsea Anderson, Derrick Chapman, Jenna Hsieh, R. Harrison Dilday and Alyssa Zhang, as well as tax partner William Skinner.