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Zoom raises US$1.75 bil in new stock offering

Bloomberg
Bloomberg1/13/2021 02:35 PM GMT+08  • 2 min read
Zoom raises US$1.75 bil in new stock offering
Zoom is selling about 5.15 million shares at US$340 apiece, representing a 4.7% discount to its last close.
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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.

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