Zoom Video Communications Inc said April 17 that its priced 20.87 million shares at $36, above its expected range of $33 to $35 a share. The San Jose company is selling about 9.9 million shares while stockholders are offering 10.96 million shares. Zoom, a video conferencing service, will trade on the Nasdaq under the ticker “ZM.”
SAN JOSE, Calif., April 17, 2019 (GLOBE NEWSWIRE) — Zoom Video Communications, Inc. (“Zoom”) today announced the pricing of its initial public offering of 20,869,565 shares of Class A common stock at a price to the public of $36.00 per share. 9,911,434 of the shares are being offered by Zoom and 10,958,131 of the shares are being offered by certain selling stockholders. Zoom will not receive any proceeds from the sale of shares by the selling stockholders.
The shares are expected to begin trading on The Nasdaq Global Select Market under the symbol “ZM” on April 18, 2019, and the offering is expected to close on April 23, 2019, subject to customary closing conditions. In addition, Zoom has granted the underwriters a 30-day option to purchase up to 3,130,435 additional shares of Class A common stock at the initial public offering price less underwriting discounts and commissions.
Morgan Stanley, J.P. Morgan, Goldman Sachs & Co. LLC, and Credit Suisse are acting as lead book-running managers for the offering. BofA Merrill Lynch, RBC Capital Markets, and Wells Fargo Securities are acting as book-running managers, and JMP Securities, KeyBanc Capital Markets, Piper Jaffray, Stifel, and William Blair are co-managers for the offering.
The offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204, or by email at firstname.lastname@example.org; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526, or by e-mail at email@example.com; and Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, Eleven Madison Avenue, 3rd floor, New York, NY 10010, by telephone at (800) 221-1037, or by email at firstname.lastname@example.org.
A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Zoom helps businesses and organizations bring their teams together in a frictionless environment to get more done. Our easy, reliable cloud platform for video, voice, content sharing, and chat runs across mobile devices, desktops, telephones, and room systems. Zoom is headquartered in San Jose, California.