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Zoom Aims to Raise $ 1.5 Billion Through New Stock Sale

The video-calling big needs to generate a brand new providing of widespread shares so as to improve its money reserves.

January 14, 2021 2 min learn

This text was translated from our Spanish version utilizing AI applied sciences. Errors could exist due to this course of. This story initially appeared on Excessive Stage

The developer of the favored utility for video conferencing, mentioned Tuesday it has launched an underwritten providing of 1,500 million US {dollars} of its Class A widespread shares

It’s price mentioning that this provide follows the expansion of its shares final yr, which elevated to 400 p.c. Additionally, its capitalization broke data, averaging $ 100 billion. This was due to a robust demand for using this utility, derived from the coronavirus pandemic.

JP Morgan is the one bookie within the settlement and has the opportunity of 30 days to buy up to an extra $ 225 million of shares.

What’s Zoom attempting to do with the sale of widespread shares?

The aim of the firm that developed the video calling platform is that with the sale of widespread shares, its money reserves will be elevated. This was introduced by the corporate in a presentation on the matter, “We would like to improve our monetary flexibility,” they identified from Zoom .

Except for publicizing its providing, the corporate additionally celebrated the speedy development of its Zoom Cellphone platform, which is a core product of the linked conferencing utility, whose companies additionally embody Zoom Conferences, Zoom Chat, Zoom Chat, Zoom Rooms and Zoom Video Webinars.

This platform affords service in dozens of nations and territories around the globe together with Mexico.

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