Both offerings were expanded from the initial plans., with Bill.com selling 11,297,058 shares at $22 per share (including the underwriter’s overallotment) durin the IPO. The company added 1 million shares from its original plan for the IPO, whose original price estimate was $16 per share to $18 per share

The follow-on offering is also 1 million shares higher than the original plan with underwriters given the option to purchase an additional 1,080,000 sharesill.com is offering 3.25 million shares which will bring estimated proceeds of  $231,660,000 while selling shareholders—all outside investment firms—are offering 3.95 million, with estimated proceeds of  $281,556,000; all before expenses., Bill.com will receive about  $307.3 million, if the underwriter’s exercise their option.

The company says possible use of proceeds include product development, general and administrative matters, capital expenditures and  possible M&A activity.