Zoom stock slumps 6% after the video-conferencing group announces a $1.5 billion stock offering

Zoom stock slumps 6% after the video-conferencing group announces a $1.5 billion stock offering

Zoom shares slid as much as 6% in premarket trading on Tuesday after the video-conferencing group announced it will sell $1.5 billion of its stock in an underwritten public offering.

The software company didn’t provide a date for the offering, saying it was “subject to market and other conditions.”

Zoom has appointed JPMorgan as the sole underwriter. It plans to grant the investment bank a 30-day option to purchase an additional $225 million of its shares at the offering price, before underwriting discounts and commissions.

[…]