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ZoomInfo Technologies Inc. ("ZoomInfo") announced today the pricing of its initial public offering of 44,500,000 shares of its Class A common stock at a price to the public of $21.00 per share. ZoomInfo has granted the underwriters a 30-day option to purchase up to an additional 6,675,000 shares of Class A common stock. The shares are expected to begin trading on the Nasdaq Global Select Market on June 4, 2020 under the symbol "ZI." The offering is expected to close on June 8, 2020, subject to customary closing conditions.
ZoomInfo will receive net proceeds of approximately $887 million after deducting underwriting discounts and commissions and intends to use the net proceeds from the offering to redeem all outstanding Series A preferred units of ZoomInfo Holdings LLC, its indirect subsidiary following the initial public offering ("ZoomInfo OpCo"), for approximately $274 million, to repay all $370 million aggregate principal amount of its outstanding second lien term loans, to repay $35 million of outstanding borrowings under its first lien revolving credit facility, to purchase outstanding ZoomInfo OpCo equity interests from certain equity holders for approximately $43 million, to pay certain expenses related to this offering, and for general corporate purposes.
J.P. Morgan and Morgan Stanley are acting as the joint lead book-running managers for the offering. Barclays and Credit Suisse are also acting as joint book-running managers of the offering, as are BofA Securities, Deutsche Bank Securities, RBC Capital Markets, UBS Investment Bank, and Wells Fargo Securities. Canaccord Genuity, JMP Securities, Mizuho Securities, Piper Sandler, Raymond James, Stifel, SunTrust Robinson Humphrey, and Roberts & Ryan are acting as co-managers of the offering.
The offering of these securities is being made only by means of a prospectus. Copies of the prospectus relating to this offering, when available, may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at (866) 803-9204 or by email at firstname.lastname@example.org; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014.
A registration statement relating to the sale of these securities was filed with, and declared effective by, the Securities and Exchange Commission. Copies of the registration statement can be accessed through the Securities and Exchange Commission’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ZoomInfo is a leading go-to-market intelligence platform for sales and marketing teams. Its go-to-market intelligence platform delivers comprehensive and high-quality intelligence and analytics on approximately 14 million companies, including advanced attributes, technologies used by companies, intent signals, and decision-maker contact information. Its software, insights, and data enable over 15,000 companies to sell and market more effectively and efficiently.
Forward Looking Statements
This press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. These forward-looking statements include any statements regarding the commencement of trading of ZoomInfo’s Class A common stock on the Nasdaq Global Select Market, the closing of the offering, and the intended use of proceeds from this offering. Such forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include but are not limited to those described under "Risk Factors" in ZoomInfo’s registration statement relating to the offering. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the registration statement. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
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