Zoom Prices Public Offering Of 5.15 Mln Shares At $340.00/shr

(RTTNews) - Zoom Video Communications Inc. (ZM), a provider of video-first unified communications, said that it has priced an underwritten public offering of 5.15 million shares of its Class A common stock at $340.00 per share.

The company expects the aggregate gross proceeds from the offering to be about $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.

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.

ZM closed Tuesday's regular trading at $356.81 up $19.10 or 5.66 percent. In the after-hours, the stock further gained $1.19 or 0.33 percent.