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Bill.com IPO Price Above Estimates

Bill.com went public this week selling more 1 million more shares than originally anticipated at a per-share price above raised estimates. The offering price was $22 per share, up from an original estimate of $16 to $18 per share last week and a raised estimate of $19 to $21 per share the day before the IPO.

The total offering was $216.1 million with proceeds to the payments software company of slightly less than $201 million. Bill.com sold 9,823,529 million shares, up from the originally planned 8,823,529 shares with underwriters having the option to purchase another 1,473,529 shares. In addition, Bill.com’s prospectus reported entities associated with Dragoneer Investment Group are interested in purchasing up to 1,500,000 shares at the IPO price.

Dragoneer is not one of Bill.com’s pre-IPO investors.

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