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.
From the Biotech Insider archive. This article dates from Jan 13, 2021 and is preserved as first published.
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.
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.
