BILL prices $1.25B of 0% convertible notes due 2030; to repurchase existing notes and $200M of stock

BILL Holdings, Inc.

Upsized from $1.0B to $1.25B aggregate principal; initial purchasers have option for additional $150M.
Notes bear 0% interest, due April 1, 2030; initial conversion price ~$119.45/sh (35% premium to $88.48 close).
Net proceeds ~$1.23B ($1.38B if greenshoe exercised); ~$130.8M to repurchase 2025 notes, ~$408.6M for 2027 notes.
Plans to repurchase 2,260,397 shares ($200M) from note purchasers concurrently with offering.
Sale expected to close Dec 6, 2024; capped call transactions entered to offset dilution.

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