ZoomInfo Technologies, which provides a data platform for sales, marketing, and recruiting professionals, increased the proposed range for its upcoming IPO on Tuesday.
The Vancouver, WA-based company now plans to raise $868 million by offering 44.5 million shares at a price range of $19 to $20. The company had previously filed to offer the same number of shares at a range of $16 to $18. At the midpoint of the revised range, ZoomInfo Technologies will raise 15% more in proceeds than previously anticipated and would command a fully diluted market cap of $7.7 billion.
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.
