Zoom Video (ZM) - Get Zoom Video Communications, Inc. Class A Report announced that it would be selling around $1.5 billion in new stock.
The company announced that it would sell around 4.45 million of its Class A common stock through an offering lead by JPMorgan Chase & Co, noting in a Securities & Exchange Commission filing that $1.5 billion proceeds generated from the sale would be used for 'general corporate purposes'. The so-called mixed-shelf filing also includes the prospect of issuing new debt securities.
Jim Cramer discusses the stock in the video above.
Curious about what Jim Cramer and his team at Action Alerts PLUS are watching in the markets? Watch Cramer's exclusive members-only Daily Rundown show on Action Alerts PLUS following TheStreet Live.