Bill Holdings collapses following proposed $1 billion convertible debt issue – 12/02/2024 at 10:23 p.m.

((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))

Dec. 2 – ** Shares of Bill Holdings BILL.N fall 5% to $85.01 in extended trading as the financial software platform seeks to raise capital ** The San Jose, Calif., company offers $1 billion in private convertible bonds (CBs) due 2030

**The company plans to use a portion of the net proceeds to pay for capped call options, to repurchase a portion of its existing 2025 and/or 2027 convertible notes, and to repurchase up to $200 million of its stock

**BILL shares closed Monday down 0.8% at $89.52, giving the company a market capitalization of about $9.3 billion, according to LSEG** The stock has jumped about 36% since the company raised its FY25 revenue and profit guidance on Nov. 7, after posting a positive first-quarter result

** Since the beginning of the year, the stock is up 10%