Zoom Video prices $1.75 billion secondary offering at 5% discount

Zoom Video prices $1.75 billion secondary offering at 5% discount

Zoom Video Communications Inc. ZM, 0.25% announced late Tuesday that it has priced its 5.1 million-plus-share secondary offering at $340 a share, roughly a 5% discount on the stock’s trading range Tuesday.

It anticipates gross proceeds of $1.75 billion from the offering, which is anticipated to close on or about Friday, Jan. 15. J.P. Morgan is the sole book-running manager for the offering and has been granted a 30-day option to purchase up to an additional 735,000-plus shares. Zoom shares, widely considered a prime beneficiary of the work- and learn-from-home response to the coronavirus pandemic, have surged nearly 390% in the past year.

Share:
Scroll Up
error: Content is protected !!