VIZIO Announces Closing of Initial Public Offering

Rhea-AI Summary

VIZIO Holding Corp. (NYSE: VZIO) has closed its initial public offering of 12,250,000 Class A common stock shares at $21.00 each. The offering included 7,560,000 shares from VIZIO and 4,690,000 shares from selling stockholders, with VIZIO not receiving proceeds from the latter. Shares commenced trading on the NYSE on March 25, 2021. J.P. Morgan and BofA Securities acted as lead managers, supported by Wells Fargo and Guggenheim. The SEC declared the registration statement effective on March 24, 2021.

VIZIO Holding Corp. ("VIZIO") (NYSE: VZIO) today announced the closing of its initial public offering of 12,250,000 shares of its Class A common stock at a price to the public of $21.00 per share, which includes 7,560,000 shares of its Class A common stock offered by VIZIO and 4,690,000 shares of VIZIO’s Class A common stock offered by certain selling stockholders. VIZIO did not receive any proceeds from any sales of shares by the selling stockholders. The shares began trading on the New York Stock Exchange on March 25, 2021 under the symbol "VZIO".

J.P. Morgan and BofA Securities acted as lead book-running managers for the offering. Wells Fargo Securities and Guggenheim Securities acted as book-running managers for the offering. Needham & Company and Piper Sandler acted as joint lead managers, and Roth Capital Partners acted as co-manager for the offering.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on March 24, 2021. The offering was made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmorganchase.com; BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, or by email at dg.prospectus_requests@bofa.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About VIZIO

Founded and headquartered in Orange County, California, VIZIO's mission is to deliver immersive entertainment and compelling lifestyle enhancements that make our products the center of the connected home. VIZIO is driving the future of televisions through its integrated platform of cutting-edge Smart TVs and powerful SmartCast operating system. VIZIO also offers a portfolio of innovative sound bars that deliver consumers an elevated audio experience. VIZIO's platform gives content providers more ways to distribute their content and advertisers more tools to target and dynamically serve ads to a growing audience that is increasingly transitioning away from linear TV.

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FAQ

What was the price of VIZIO's initial public offering (IPO)?

VIZIO's IPO was priced at $21.00 per share.

How many shares did VIZIO offer in its IPO?

VIZIO offered a total of 12,250,000 shares in its IPO.

When did VIZIO start trading on the NYSE?

VIZIO began trading on the New York Stock Exchange on March 25, 2021.

Which companies managed VIZIO's IPO?

J.P. Morgan and BofA Securities served as lead book-running managers for VIZIO's IPO.

Did VIZIO receive proceeds from the selling stockholders in the IPO?

No, VIZIO did not receive any proceeds from the shares sold by the selling stockholders.