June 10, 2021
Zeta, a cloud-based marketing technology company that empowers enterprises to acquire, grow, and retain customers, has announced the pricing of its initial public offering of 21,500,000 shares of its Class A common stock at a public offering price of US$10 per share comprised of 14,773,939 shares of Class A common stock offered by Zeta and 6,726,061 shares of Class A common stock offered by the selling stockholders. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Zeta, are expected to be approximately US$215 million.
Zeta's common stock is expected to begin trading on the New York Stock Exchange on June 10, 2021 under the ticker symbol "ZETA." The offering is expected to close on June 14, 2021, subject to the satisfaction of customary closing conditions. In addition, certain selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 3,225,000 shares of Class A common stock at the initial public offering price, less the underwriting discounts and commissions.
Latham & Watkins LLP represents Zeta in the offering with a team led by New York partner Marc Jaffe and Washington, D.C. partner Joel Trotter on capital markets matters and New York and Orange County partner Charles Ruck on corporate and governance matters, with Washington, D.C. associate Jill Rubinger and New York associates Christian Vazquez, Andrew Borruso, and Emilie Schwarz. Advice was also provided on public company representation matters by Washington, D.C. partner Brian Miller, with Washington, D.C. associates William Hackett and Charlie Guinn; on tax matters by New York partner Jiyeon Lee-Lim, with New York associate Ted Gkoo; on technology transactions matters by Bay Area partner JD Marple, with Washington, D.C. associate Morgan Brubaker; on data privacy and security matters by Bay Area counsel Robert Blamires, with Bay Area associate Adriana Beach; and on benefits and compensation matters by Washington, D.C. partner David Della Rocca, with Washington, D.C. associate Marysia Mullen.