LegalZoom Announces Pricing of Initial Public Offering
30 June 2021 - 12:20PM
Business Wire
LegalZoom.com, Inc. (“LegalZoom”), today announced the pricing
of its initial public offering of an aggregate of 19,121,000 shares
of common stock at a price to the public of $28.00 per share. In
addition, LegalZoom has granted the underwriters a 30-day option to
purchase up to an additional 2,868,150 shares of its common stock
at the public offering price, less underwriting discounts and
commissions.
The shares are expected to begin trading on the Nasdaq Global
Select Market on June 30, 2021 under the symbol "LZ" and the
offering is expected to close on July 2, 2021, subject to customary
closing conditions.
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and
Barclays Capital Inc. are acting as lead book-running managers for
the proposed offering. BofA Securities, Inc., Citigroup Global
Markets Inc., Credit Suisse Securities (USA) LLC and Jefferies LLC
are acting as book-running managers for the proposed offering. JMP
Securities LLC, Raymond James & Associates, Inc., William Blair
& Company, L.L.C., AmeriVet Securities, Inc., Penserra
Securities LLC, Siebert Williams Shank & Co., LLC and Telsey
Advisory Group LLC are acting as co-managers for the proposed
offering.
In addition to the shares sold in the public offering, LegalZoom
announced the concurrent sale of 3,214,285 additional shares of its
common stock to entities affiliated with TCV, an existing
stockholder, at a price per share equal to the initial public
offering price, in a private placement. The sale of these shares
will not be registered under the Securities Act of 1933, as
amended. The closing of the initial public offering is not
conditioned upon the closing of the concurrent private
placement.
The gross proceeds to LegalZoom from the offering and concurrent
private placement, before deducting the underwriting discounts and
commissions, placement agent fee and offering expenses payable by
LegalZoom, are expected to be approximately $625.4 million,
excluding any exercise of the underwriters’ option to purchase
additional shares of common stock.
The proposed offering will be made only by means of a
prospectus. When available, copies of the final prospectus relating
to the proposed initial public offering may be obtained from: J.P.
Morgan Securities LLC, Attention: Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at
(866) 803-9204 or by email at prospectus-eq_fi@jpmorganchase.com;
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180
Varick Street, 2nd Floor, New York, NY 10014; or Barclays Capital
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717 or by email at
barclaysprospectus@broadridge.com or by telephone at (888)
603-5847.
A registration statement relating to the sale of these
securities has been filed with, and was declared effective on June
29, 2021 by the Securities and Exchange Commission. 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 under the securities laws of any such state or
jurisdiction.
About LegalZoom
LegalZoom is a leading online platform for legal and compliance
solutions in the United States that is on a mission to democratize
law. LegalZoom operates across all 50 states and over 3,000
counties in the United States and has more than 20 years of
experience navigating complex regulations and simplifying the legal
and compliance process for its customers. Driven by its core value
that every business deserves the full protection of the legal
system and a simple way to stay compliant with it, LegalZoom helps
its customers form and protect their businesses, their ideas and
families. In 2020, 10% of all new LLCs and 5% of all new
corporations in the United States were formed through LegalZoom,
enabling small business owners to apply their energy and passion to
their businesses instead of the legal and regulatory complexity
required to operate them. In addition to business formations,
LegalZoom offers ongoing compliance and tax advice, trademark and
copyright filings and estate planning documents to protect small
businesses and the families that create them.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210629006135/en/
Bryan Curran LegalZoom bcurran@legalzoom.com
or
Noelle Amos Edelman noelle.amos@edelman.com
Investor Contact investor@legalzoom.com
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