ZoomInfo aiming to price IPO $1 above revised price range

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Source: zoominfo

ZoomInfo is aiming to price its initial public offering $1 ahead of its already-buoyed price range, two sources familiar with the matter told CNBC.

The company had already raised its IPO price range Tuesday morning, but now could target as high as $21 a share and rake in nearly $1 billion. ZoomInfo, which will trade under the symbol “ZI”, said in a government filing on Tuesday that it raised its IPO price range to between $19 and $20 per share amid strong demand, up from an initial estimate of between $16 and $18.

The final decision on how to price its IPO has yet to be made.

ZoomInfo should not be confused with the video conferencing service that has been widely used 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.

ZoomInfo, led by CEO and founder Henry Schuck, uses artificial intelligence to process data that aids corporate sales and marketing teams with customer outreach.

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