Zoom completes USD 2 billion secondary share offering

News Broadband Global 18 JAN 2021
Zoom completes USD 2 billion secondary share offering

Zoom Video Communications has closed its secondary share offering, with gross proceeds rising to USD 2.0 billion instead of the expected 1.75 billion, minus deductions, commissions and expenses. The company sold a bit over 5.8 million shares for USD 340 per piece. 

Proceeds from the sale are expected to support the videoconferencing company's rapid growth and boost its free float. Zoom said it would use the money for working capital, operating expenses and capital expenditures, as well as possible acquisitions.

JP Morgan acted as the sole book-running manager.

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Internet

Companies:

Zoom Video Communications

Regions:

Global

Tags:

Corporate strategy, Financial funding

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