Zoom (ZM) IPO Opens 80% Higher

Today's IPO for Zoom Video Communications, Inc. (NASDAQ: ZM) opened for trading at $65 after pricing 20,869,565 shares of Class A common stock at a price to the public of $36.00 per share. 9,911,434 of the shares are being offered by Zoom and 10,958,131 of the shares are being offered by certain selling stockholders.

In addition, Zoom has granted the underwriters a 30-day option to purchase up to 3,130,435 additional shares of Class A common stock at the initial public offering price less underwriting discounts and commissions.

Morgan Stanley, J.P. Morgan, Goldman Sachs & Co. LLC, and Credit Suisse are acting as lead book-running managers for the offering. BofA Merrill Lynch, RBC Capital Markets, and Wells Fargo Securities are acting as book-running managers, and JMP Securities, KeyBanc Capital Markets, Piper Jaffray, Stifel, and William Blair are co-managers for the offering.

Zoom helps businesses and organizations bring their teams together in a frictionless environment to get more done. Our easy, reliable cloud platform for video, voice, content sharing, and chat runs across mobile devices, desktops, telephones, and room systems. Zoom is headquartered in San Jose, California.

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