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Zoom Video Raises $1.75 Billion in New Stock Offering (2)

Jan. 13, 2021, 2:55 AM

Zoom Video Communications Inc. is raising $1.75 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 $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 ...