Bill Announces Repurchase of $748.2M in Convertible Notes

Bill (NYSE: BILL) has announced the repurchase of approximately $748.2 million of its outstanding 0.0% convertible senior notes due 2025. The aggregate cash repurchase price is approximately $707.1 million. Following the repurchases, approximately $401.8 million aggregate principal amount of 2025 notes will remain outstanding.

This move could have an impact on the market price of Bill's common stock. The repurchases are expected to close on March 13, 2024, subject to customary closing conditions.

Bill is a leading financial operations platform for small and midsize businesses, automating the future of finance to help businesses thrive. Their integrated platform assists businesses in efficiently managing their payables, receivables, and spend and expense management. Hundreds of thousands of businesses rely on Bill’s proprietary member network of millions to pay or get paid faster.

As a result of these announcements, the company's shares have moved 2.7% on the market, and are now trading at a price of $65.0. If you want to know more, read the company's complete 8-K report here.

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