Bill.com, which provides a SaaS platform that automates billing and back-office processes for SMBs, raised $216 million by offering 9.8 million shares (100% primary) at $22, an upsized share offering above the upwardly revised range of $19 to $21.
It originally filed to raise $150 million by offering 8.8 million shares at $16 to $18. Dragoneer had indicated on 1.5 million shares of the IPO.
Bill.com plans to list on the NYSE under the symbol BILL. Goldman Sachs, BofA Securities, Jefferies and KeyBanc Capital Markets acted as lead managers on the deal.
