Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, January 10, 2020

Article Excerpt

BILL.COM HOLDINGS INC., $39.49, symbol BILL on New York, provides cloud-based software that lets small and mid-size businesses manage payment inflows and outflows. Investors tap an accounting and billing company with over 81,000 customers using its financial-services platform. In the latest quarter, its customers managed and processed almost $22 billion in business using that system. Including its customers and suppliers, Bill.com has a network of more than 1.8 million members. The company generates roughly 55% of its revenue from software subscription fees; the rest comes from transaction fees and interest earned on money in transit between client businesses. On December 11, 2019, Bill.com sold 9.8 million shares of its stock to the public in an initial public offering at $22 a share. That was above the company’s proposed pre-IPO price range of $19 to $21. Bill.com raised net proceeds of $226 million. In its first day of trading, the stock gained 61.4%, closing at $35.51 a share. That valued the financial software company at…

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