IPOs

Back-officer automation unicorn Bill.com sets terms for $150 million IPO

Bill.com, which provides a SaaS platform that automates billing and back-office processes for SMBs, announced terms for its IPO on Monday.

The Palo Alto, CA-based company plans to raise $150 million by offering 8.8 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Bill.com would command a fully diluted market value of $1.3 billion. Dragoneer Investment Group has expressed interest in purchasing up to 1.5 million shares in the offering.

Bill.com was founded in 2006 and booked $121 million in revenue for the 12 months ended September 30, 2019. It plans to list on the NYSE under the symbol BILL. It had been on our Private Company Watchlist since June 2019. Goldman Sachs, BofA Securities, Jefferies and KeyBanc Capital Markets are the joint bookrunners on the deal. It is expected to price on Wednesday, December 11, 2019.

The article Back-officer automation unicorn Bill.com sets terms for $150 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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