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Zoom Video will issue $1.5 billion in underwriting stock



Zoom Video Communications Inc. ZM,
-3.40%
The company said on Tuesday that it has begun underwriting its $1.5 billion Class A common stock. JP Morgan is the sole bookrunner for the transaction and has a 30-day option to purchase up to $225 million in additional stock. Zoom has become one of the technology companies that have benefited from the coronavirus pandemic, as many people are forced to work from home and use its services to communicate with colleagues, family and friends. Affected by this news, Zoom stock fell 2.6% in premarket trading, but still rose 362% in the past 1

2 months, while the S&P 500 SPX,
-0.66%
An increase of 16%.


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