Zoom Video Communications Floating $1.5 Billion Stock Issue

Zoom Video Communications (NASDAQ: ZM) is calling on the stock market for $1.5 billion in fresh capital. The popular video conferencing services provider announced Tuesday that it is floating a new issue of its Class A common stock to bring in that amount.Additionally, JPMorgan Chase unit J.P. Morgan, the underwriter of the issue, has been given an option to purchase up to an additional $225 million worth of shares. The option will be in force for 30 days.At the most recent closing stock price, $1.5 billion would amount to just over 4.2 million Zoom shares in total.Continue reading
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