LegalZoom Announces Pricing of Upsized Secondary Offering of Shares of Common Stock

GLENDALE, Calif., Sept. 07, 2023 (GLOBE NEWSWIRE) —

LegalZoom.com, Inc. (Nasdaq: LZ) announced today the pricing of the previously announced underwritten public offering (the “Secondary Offering”) by a stockholder of LegalZoom (the “Selling Stockholder”) of 14,000,000 shares of LegalZoom’s common stock at a public offering price of $10.00 per share. The Secondary Offering was upsized to 14,000,000 shares from the originally announced 12,000,000 shares. The Selling Stockholder will receive all of the proceeds from the Secondary Offering. LegalZoom is not selling any shares of common stock in the Secondary Offering and will not receive any proceeds from the Secondary Offering.

Business Impact

This announcement of the pricing of the Secondary Offering by LegalZoom demonstrates the company’s commitment to growth and expansion. By offering an additional 14,000,000 shares of common stock, LegalZoom is able to increase its capital reserves and fund potential future acquisitions or strategic investments. This move indicates confidence in the company’s financial performance and prospects for future success.

Investors may view this news positively, as it shows LegalZoom’s ability to attract investment and raise funds through the public markets. The Secondary Offering could also lead to increased liquidity in LegalZoom’s stock, potentially benefiting shareholders and increasing trading activity.

Impact on Individuals

For individual investors, this pricing announcement may present an opportunity to evaluate LegalZoom as a potential investment. The upsized Secondary Offering and public offering price of $10.00 per share could impact the stock’s valuation and attractiveness to investors looking to diversify their portfolios.

It is important for individual investors to conduct thorough research and due diligence before making any investment decisions related to LegalZoom or any other company participating in a public offering.

Conclusion

The pricing of LegalZoom’s Upsized Secondary Offering signifies a significant milestone for the company and its stakeholders. As LegalZoom continues to pursue growth opportunities and expand its footprint in the legal services industry, the successful completion of this offering reflects investor confidence and market value. Moving forward, it will be interesting to see how the proceeds from the Secondary Offering are utilized and how they contribute to LegalZoom’s long-term success.