Zoom Announces Pricing of $1.75 Billion Public Offering
13 January 2021 - 1:20PM
Zoom Video Communications, Inc. (NASDAQ: ZM), a leading provider of
video-first unified communications, today announced the pricing of
an underwritten public offering of 5,147,059 shares of its Class A
common stock at a price to the public of $340.00 per share. The
aggregate gross proceeds from the offering are expected to be
approximately $1.75 billion, before deducting the underwriting
discounts and commissions and estimated offering expenses. The
offering is expected to close on or about January 15, 2021, subject
to customary closing conditions. In connection with the offering,
Zoom has granted the underwriter a 30-day option to purchase up to
an additional 735,294 shares of its Class A common stock at the
public offering price, less underwriting discounts and commissions.
J.P. Morgan is acting as the sole book-running manager for the
offering.
The shares described above are being offered by Zoom pursuant to
a shelf registration statement on Form S-3, including a base
prospectus, that was filed by Zoom with the Securities and Exchange
Commission (the “SEC”) and that became automatically effective on
January 12, 2021. A preliminary prospectus supplement and
accompanying prospectus relating to the offering has been filed
with the SEC, and a final prospectus supplement and accompanying
prospectus relating to the offering will be filed with the SEC and
will be available on the SEC’s website located at
http://www.sec.gov. Copies of the final prospectus supplement and
the accompanying prospectus relating to the offering may be
obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by
telephone at 1-866-803-9204 or by email at
prospectus-eq_fi@jpmchase.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, 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 of these securities under the
securities laws of any such state or jurisdiction.
About ZoomZoom Video Communications, Inc.
(NASDAQ: ZM) brings teams together to get more done in a
frictionless and secure video environment. Our easy, reliable, and
innovative video-first unified communications platform provides
video meetings, voice, webinars, and chat across desktops, phones,
mobile devices, and conference room systems. Zoom helps enterprises
create elevated experiences with leading business app integrations
and developer tools to create customized workflows. Founded in
2011, Zoom is headquartered in San Jose, California, with offices
around the world.
Forward-Looking Statements This release
contains or may imply "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
Section 21E of the Securities Exchange Act of 1934 and the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are not based on historical fact and include, but are
not limited to, statements regarding the completion of the public
offering and the expected proceeds therefrom. Any forward-looking
statements are based on management's current expectations of future
events and are subject to a number of risks and uncertainties that
could cause actual results to differ materially and adversely from
those set forth in or implied by such forward-looking statements.
These risks and uncertainties include, but are not limited to,
risks and uncertainties related to market conditions and
satisfaction of customary closing conditions related to the public
offering. For a discussion of other risks and uncertainties, and
other important factors, any of which could cause our actual
results to differ from those contained in the forward-looking
statements, see the section entitled "Risk Factors" in Zoom’s most
recent Form 10-Q, as well as in the final prospectus supplement
related to the public offering to be filed with the SEC. These
forward-looking statements speak only as of the date hereof and
Zoom undertakes no obligation to update forward-looking statements,
and readers are cautioned not to place undue reliance on such
forward-looking statements.
Press RelationsColleen RodriguezGlobal Public
Relations Leadpress@zoom.us
Investor RelationsTom McCallumHead of Investor
Relationsinvestors@zoom.us
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