LegalZoom.com, Inc (LegalZoom), has announced the pricing of its initial public offering of an aggregate of 19,121,000 shares of common stock at a price to the public of USD28.00 per share. In addition, LegalZoom has granted the underwriters a 30-day option to purchase up to an additional 2,868,150 shares of its common stock at the public offering price, less underwriting discounts and commissions.
The shares are expected to begin trading on the Nasdaq Global Select Market on June 30, 2021 under the symbol “LZ” and the offering is expected to close on July 2, 2021, subject to customary closing conditions.
JP Morgan Securities LLC, Morgan Stanley & Co LLC and Barclays Capital Inc are acting as lead book-running managers for the proposed offering. BofA Securities, Inc, Citigroup Global Markets Inc, Credit Suisse Securities (USA) LLC and Jefferies LLC are acting as book-running managers for the proposed offering. JMP Securities LLC, Raymond James & Associates, Inc, William Blair & Company, LLC, AmeriVet Securities, Inc, Penserra Securities LLC, Siebert Williams Shank & Co, LLC and Telsey Advisory Group LLC are acting as co-managers for the proposed offering.
In addition to the shares sold in the public offering, LegalZoom announced the concurrent sale of 3,214,285 additional shares of its common stock to entities affiliated with TCV, an existing stockholder, at a price per share equal to the initial public offering price, in a private placement. The sale of these shares will not be registered under the Securities Act of 1933, as amended. The closing of the initial public offering is not conditioned upon the closing of the concurrent private placement.
The gross proceeds to LegalZoom from the offering and concurrent private placement, before deducting the underwriting discounts and commissions, placement agent fee and offering expenses payable by LegalZoom, are expected to be approximately USD625.4 million, excluding any exercise of the underwriters’ option to purchase additional shares of common stock.
