Zoom Video Communications Launches IPO

zoomZoom Video Communications, Inc., a San Jose, Calif.-based provider of a video confering company, priced 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 began 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.

Zoom provides businesses and organizations with a cloud platform for video, voice, content sharing, and chat running across mobile devices, desktops, telephones, and room systems.



Join the discussion