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ZoomInfo to price IPO $1 above revised price range

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ZoomInfo to price IPO $1 above revised price range

ZoomInfo has decided to raise its initial public offering to $1 ahead of its already-buoyed price range, as reported by CNBC.

The company had sent its IPO price range up Tuesday morning, but now may aim for as high as $21 a share and generate nearly $1 billion. ZoomInfo, which will trade under the symbol “ZI”, stated in a government filing on Tuesday that it succeeded in raising its IPO price range to between $19 and $20 per share amidst a solid demand, going beyond an initial estimate of between $16 and $18.
The final decision remains on how to price its IPO.
It is important to note that ZoomInfo should not be mistaken for the video conferencing service that has been heavily utilized during the Covid-19 pandemic, Zoom Video Communications. The soon-to-be-public company is back by TA Associates, The Carlyle Group and 22C Capital, as per CNBC.
Led by CEO and founder Henry Schuck, ZoomInfo uses artificial intelligence to process data that will be used to aid corporate sales and marketing teams with customer outreach.

(Reference: CNBC)(Image source: ZoomInfo)