ZoomInfo Technologies, which provides a data platform for sales, marketing, and recruiting professionals, announced terms for its IPO on Wednesday.
The Vancouver, WA-based company plans to raise $757 million by offering 44.5 million shares at a price range of $16 to $18. At the midpoint of the proposed range, ZoomInfo Technologies would command a fully diluted market value of $6.7 billion. The company intends to use 6% of the offering to repurchase shares from insiders in a synthetic secondary offering. Cornerstone investors BlackRock, Dragoneer, and Fidelity have indicated on $300mm of the IPO (40% of the deal).
Formerly known as DiscoverOrg, the company was renamed ZoomInfo Technologies following its $760 million acquisition of Zoom Information in February 2019.
ZoomInfo Technologies was founded in 2000 and booked $341 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol ZI. J.P. Morgan, Morgan Stanley, Barclays, Credit Suisse, BofA Securities, Deutsche Bank, RBC Capital Markets, UBS Investment Bank, and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of June 1, 2020.
