ZoomInfo changes to single class of stock
Press release as paraphrased and shortened by me.
"Move to single class of Common Stock. Simplified corporate structure reduces compliance and reporting complexity, and creates opportunity for increased index inclusion.
Our board of directors has unanimously approved streamlining the corporate structure and governance by eliminating the multiple classes of stock. This will result in all shareholders holding the same class of common stock with the same economic and voting interests and giving all of our shareholders one vote per share.
We believe that these changes will expand potential investor appeal through reduced complexity and more investor-friendly corporate governance. The restructuring is expected to enable us to become eligible for inclusion in relevant stock indices.
Operationally, we expect the simplification to reduce compliance and reporting costs, and increase cash flow, as well as increase our flexibility with respect to potential acquisitions. We expect to record net assets over $800 million related to the conversion, comprised of deferred tax assets. We expect to complete the conversion in the fourth quarter of 2021."
It can’t be anything but good news for us investors.