Announces Potential Pricing for IPO

December 2, 2019 by 247chrislange Holdings has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). The company expects to price its 8.82 million shares in the range of $16 to $18 per share, with an overallotment option for an additional 1.32 million shares. At the maximum price, the entire offering is valued up to $182.65 million. The company intends to list its shares on the New York Stock Exchange under the symbol BILL.

The underwriters for the offering are Goldman Sachs, Merrill Lynch, Jefferies, KeyBanc Capital Markets, Canaccord Genuity, Needham and William Blair.

This firm is a leading provider of cloud-based software that simplifies, digitizes and automates complex back-office financial operations for small and midsize businesses. By transforming how such businesses manage their cash inflows and outflows, creates efficiencies and frees its customers to run their businesses.’s purpose-built, artificial-intelligence-enabled financial software platform creates seamless connections between customers, their suppliers and their clients. Customers use the platform to generate and process invoices, streamline approvals, send and receive payments, sync with their accounting system and manage their cash.

The firm has built sophisticated integrations with popular accounting software solutions, banks and payment processors, enabling customers to access these mission-critical services through a single connection.

Currently, over 81,000 customers trust this platform to manage their financial workflows and process their payments, which totaled over $70 billion for fiscal 2019, and nearly $22 billion for the September quarter. As of the end of June, the firm had over 1.8 million network members.

The company detailed its finances in the filing:

Our total revenue was $64.9 million and $108.4 million for fiscal 2018 and 2019, respectively, an increase of 67%. For the three months ended September 30, 2018 and 2019, our total revenue was $22.4 million and $35.2 million, respectively, an increase of 57%. We incurred net losses of $7.2 million and $7.3 million for fiscal 2018 and 2019, respectively. For the three months ended September 30, 2018 and 2019, we incurred net losses of $0.9 million and $5.7 million, respectively. intends to use the net proceeds from the offering for working capital and other general corporate purposes.