Zoom Video Communications Inc. is raising US$1.75 billion ($2.32 billion) through a stock offering, capitalizing on enduring demand for the video-conferencing platform during the pandemic.
Zoom is selling about 5.15 million shares at US$340 apiece, representing a 4.7% discount to its last close, according to a statement on Tuesday. The offering is expected to close on or about Jan 15.
It has given its underwriter a 30-day option to buy as much as an additional 735,294 shares of its Class A stock at the public offering price, excluding underwriting discounts and fees, the statement shows. JPMorgan Chase & Co. is the sole bookrunner for the sale.