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Zoom Video Communications Inc. ZM,
announced Tuesday night that it had valued its secondary offering of 5.1 million shares and more at $ 340 a share, or about 5% off the stock’s trading range on Tuesday. He predicts gross proceeds of $ 1.75 billion from the offering, which is expected to close on or around Friday, January 15. JP Morgan is the sole accounting manager of the offering and has been granted a 30-day call option up to over 735,000 additional shares. Zoom shares, widely seen as one of the primary beneficiaries of the work and home learning response to the coronavirus pandemic, have jumped nearly 390% in the past year.
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