Zscaler Announces Pricing of Initial Public Offering

On March 15, 2018, Zscaler, a global cloud security platform, announced the pricing of its initial public offering of 12,000,000 shares of its common stock at a public offering price of $16.00 per share for total gross proceeds of approximately $192.0 million. The shares began trading on the Nasdaq Global Select Market on March 16, 2018, under the symbol "ZS." Wilson Sonsini Goodrich & Rosati is representing Zscaler in the offering.

Lead book running managers for the offering include Morgan Stanley & Co. and Goldman Sachs & Co. Additional book running mangers are BofA Merrill Lynch, Barclays Capital, Deutsche Bank Securities, Credit Suisse Securities (USA), and UBS Securities. Co-managers include Robert W. Baird & Co., BTIG, Needham & Company, and Stephens Inc.

Zscaler has granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock to cover over-allotments, if any, at the public offering price, less underwriting discounts and commissions. The offering is expected to close on March 20, 2018, subject to customary closing conditions.

The WSGR team representing Zscaler includes corporate partners Raj Judge and Mark Baudler, and associates Lianna Whittleton, Shauna Bracher, and Natasha Chu.

For more information, see Zscaler's press release.