secwatch.observer — SEC 8-K summary
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Issuer:     BILL Holdings, Inc. (BILL)
CIK:        0001786352
Form:       8-K
Filed at:   2024-12-04T23:59:59+00:00
Accession:  0001193125-24-270285
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1786352/000119312524270285/0001193125-24-270285-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1786352/000119312524270285/d858310d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-270285

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer