Bill.com Announces Launch of Proposed Follow-on Offering

PALO ALTO, Calif.--(BUSINESS WIRE)--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, today announced that it has commenced a follow-on public offering of its common stock pursuant to a registration statement on Form S-1 filed with the Securities and Exchange Commission (“SEC”). Bill.com proposes to sell up to 3,250,000 shares of its common stock in the offering, and selling stockholders are proposing to sell up to 2,750,000 shares of Bill.com common stock in the offering. In addition, Bill.com has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of Bill.com common stock. Bill.com will not receive any proceeds from the sale of the shares by the selling stockholders.

Goldman Sachs & Co. LLC, BofA Securities, Jefferies LLC and KeyBanc Capital Markets are acting as joint lead book-running managers for the proposed offering. Wells Fargo Securities is also acting as a joint book-running manager for the proposed offering. Canaccord Genuity, Needham & Company, Oppenheimer & Co., Piper Sandler and William Blair are acting as co-managers for the proposed offering.

The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus, when available, may be obtained from Goldman Sachs & Co., LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at [phone], or by email at [e-mail]; from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at [e-mail]; from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at [phone], or by email at [e-mail]; from KeyBanc Capital Markets, Attention: Prospectus Delivery Department, 127 Public Square, 4th Floor, Cleveland, Ohio 44114, or by telephone at [phone]; and from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, NY 10001, or by telephone at [phone], or by email at [e-mail].

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. A copy of the preliminary prospectus can be accessed through the SEC’s website at www.sec.gov.

These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Bill.com

Bill.com is a leading provider of cloud-based software that simplifies, digitizes, and automates complex, back-office financial operations for small and midsize businesses. Customers use the Bill.com platform to manage end-to-end financial workflows and to process payments. The Bill.com financial software platform creates connections between businesses and their suppliers and clients. It helps manage cash inflows and outflows. The company partners with several of the largest U.S. financial institutions, the majority of the top 100 U.S. accounting firms, and popular accounting software providers. Bill.com has offices in Palo Alto, California and Houston, Texas.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Bill.com’s future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “going to,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern Bill.com’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements concerning the terms of the proposed public offering and the completion, timing and size of the proposed public offering. Bill.com’s expectations and beliefs regarding these matters may not materialize and could change as a result of the global pandemic resulting from the novel coronavirus known as COVID-19, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Bill.com’s filings with the Securities and Exchange Commission, including Bill.com’s prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, on December 12, 2019 and in Bill.com’s Quarterly Report on Form 10-Q filed on May 8, 2020. The forward-looking statements in this release are based on information available to Bill.com as of the date hereof, and Bill.com disclaims any obligation to update any forward-looking statements, except as required by law.