ZoomInfo IPO: 13 Things for Potential ZI Stock Investors to Know

The ZoomInfo (NASDAQ:ZI) IPO is underway Thursday for the subscription software company’s shares.

ZoomInfo IPO: 13 Things for Potential ZI Stock Investors to Know
Source: II.studio / Shutterstock.com

Here’s what potential investors need to know about the ZoomInfo IPO.

  • The company’s IPO includes 44.5 million shares of its Class A common stock.
  • The shares are price at $21 each.
  • There’s also a 30-day option for underwriters of the IPO to purchase an additional 6.675 million shares.
  • The joint lead book-runners of the IPO are J.P. Morgan and Morgan Stanley.
  • Trading of the stock starts today on the Nasdaq Global Select Market under the ticker “ZI”.
  • The offering will allow the company to raise between 934.5 million and $1.08 billion.
  • ZoomInfo is expecting net proceeds from the IPO to come in at around $887 million.
  • The company already has plans for how to use the money it will gain from the IPO.
  • That includes spending $274 million of it on purchasing all outstanding Series A preferred units of its subsidiary ZoomInfo Holdings LLC.
  • The company plans to spend another $370 million to pay off its second lien term loans.
  • It will also allocate $35 million for paying off borrowings from its first lien revolving credit facility.
  • The plan for the money also includes using $43 million to buy outstanding ZoomInfo OpCo equity interests from certain holders.
  • It will then use the rest of the money to cover expenses of the IPO and for other general uses.

ZO stock was up 67.1% as of Thursday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/06/zoominfo-ipo-things-to-know/.

©2021 InvestorPlace Media, LLC