** Shares of Bill Holdings BILL.N drop 5% to $85.01 in extended trading as financial software platform looks to raise capital
** San Jose, Calif., firm says offering privately $1 bln convertible bonds (CBs) due 2030
** Co plans to use portion of net proceeds to pay for capped calls, to repurchase portion of its existing 2025 and/or 2027 CBs, and buy back up to $200 mln of its stock
** BILL shares on Mon closed down 0.8% at $89.52, giving co market cap of about $9.3 bln, per LSEG
** Stock has surged ~36% since co on Nov 7 raised its FY25 rev and profit forecasts, after posting fiscal Q1 beat
** YTD, stock up 10%
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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