Shares of BILL Holdings Inc. (BILL) soared 15.34% in intraday trading on Wednesday following reports that the business payments firm is exploring strategic options, including a potential sale. The significant jump reflects investors' optimism about the possibility of a lucrative deal for the financial technology company, which has been under pressure from activist investors.

According to sources familiar with the matter, BILL Holdings is working with financial advisers to solicit interest from larger industry rivals and private equity firms. The move comes as the company faces increasing pressure from activist investors, including Starboard Value LP, which owns an 8.5% stake, and Elliott Investment Management, which holds approximately 5% of the company. These developments are particularly noteworthy given that BILL's shares had declined by 45% year-to-date prior to this news.

The potential sale exploration is seen as a strategic move to maximize shareholder value in a challenging market environment. BILL Holdings, which went public in 2019, has faced recent headwinds despite reporting solid financial results. In its latest quarterly report, the company exceeded earnings estimates with adjusted earnings of 61 cents per share and reported a 10% year-over-year increase in revenue to $395.74 million.

While the talks are said to be at an early stage and no final decision has been made, the market's reaction indicates strong investor interest in the potential outcomes. The company has not yet responded to requests for comment on the reports. As BILL Holdings considers its options, investors will be closely watching for any official announcements or further developments in this unfolding story.