Zuora Announces Pricing of Initial Public Offering
On April 12, 2018, Zuora, a cloud software company that helps business customers manage subscriptions, announced the pricing of its initial public offering of 11,000,000 shares of its Class A common stock at a price to the public of $14 per share. The shares began trading on the New York Stock Exchange on April 12, 2018, under the symbol "ZUO." Wilson Sonsini Goodrich & Rosati is representing the underwriters in the offering.
The underwriters also exercised their option to purchase up to 1,650,000 additional shares of Class A common stock at the initial public offering price less underwriting discounts. Goldman Sachs & Co. and Morgan Stanley & Co. acted as the joint lead bookrunners for the offering, while Allen & Company and Jefferies are acting as bookrunners. Canaccord Genuity and Needham & Company are acting as co-managers.
Zuora is based in San Mateo, California, and has satellite offices throughout North America, Europe, China, India, Japan, and Australia. The company has approximately 950 customers in 30 countries.
For more information, please see Zuora's press release.