SAN JOSE, Calif., Jan. 12, 2021(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.
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 Zoom
Zoom 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 Relations
Colleen Rodriguez
Global Public Relations Lead
press@zoom.us
Investor Relations
Tom McCallum
Head of Investor Relations
investors@zoom.us
