Bottomline Tech Closes Upsized Offering, Sees Proceeds ~$167M
Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and banking solutions, today announced that the underwriters of its previously announced convertible note offering have fully exercised their overallotment option. As a result, the net offering proceeds to Bottomline are estimated to be approximately $167 million after deducting the underwriting discount, other estimated offering expenses and the net cost of the previously announced hedge and warrant transactions that Bottomline entered into in connection with the offering. The offering closed on Wednesday, December 12.
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