Zoom to Offer $1.5b Class A Stock; Shares Dip
(Bloomberg) -- Zoom Video Communications has commenced an underwritten public offering of $1.5 billion of shares of its Class A common stock.
- All of the shares in the proposed offering will be sold by Zoom
- Zoom expects to grant underwriters a 30-day option to purchase up to an additional $225m of shares of its Class A common stock at the public offering price
- J.P. Morgan is acting as the sole book-running manager for the proposed offering
- Zoom shares fall approx. 3% premarket
- NOTE: Dec. 30, FTC Probe of Zoom’s Relationship With China Urged by a Senator
- NOTE: Dec. 24, Zoom Named Top 2021 Pick at Davidson; Firm Says to Buy Dip (1)
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