Boston’s Duck Creek Technologies Prices Each Share At $27

by StartupWorld Staff         

The Boston-based SaaS-delivered enterprise software firm developing software for property and casualty insurance, Duck Creek Technologies, Inc. has announced the pricing of its initial public offering (IPO) of 15,000,000 shares of its stock at a price of $27.00 per share. 

Duck Creek Technologies' common shares are predicted to start trading on the Nasdaq Global Select Market on 14th August 2020 under the symbol 'DCT.' On 18th August 2020, the shares' offering will be closed as subjected to customary closing conditions. 

Besides, the underwriters have a 30-day option of purchasing the additional shares up to 2,250,000 shares in common stock at the IPO price, less underwriting discounts, and commissions.

For the proposed offering, J.P. Morgan, Goldman Sachs & Co. LLC and BofA Securities are serving as lead book-running managers. Alongside this, RBC Capital Markets and Barclays also act as book-running managers for the proposed offering. Needham & Company, JMP Securities, Stifel, D.A. Davidson & Co, William Blair, Loop Capital Markets, and Raymond James, together act as co-managers for the proposed offering.

Boston’s Duck Creek Technologies Prices Each Share At $27

The offering is being made by the only means of a prospectus. The final prospectus copies are obtained by free EDGAR visit on the Securities and Exchange Commission's (SEC). For the final prospectus- alternative copies will be obtained for free from the offices of Goldman Sachs & Co. LLC. The IPO is subjected to market and other conditions, however, there will be no assurance whether or when the offering will be completed.

The Securities and Exchange Commission has effectively declared and registered the statement linked to the securities. As per the firm, this press release must not initiate an offer to sell nor the invitation of an offer to buy these securities, neither should there be any sale of these securities in any jurisdiction or state in which such solicitation, offer, or sale would be unlawful earlier to registration or qualification under the securities laws of any such jurisdiction or state.

The press release includes some specific disclosure containing 'forward-looking statements,' involving the size regarding timing and expected price range of the IPO based on Duck Creek's current assumptions and expectations. 

However, these forward-looking statements are linked to inherent uncertainties, changes, and risks in situations that might vary materially, not the statements of historical facts or assurance of future performance.

Important factors that could demand the actual results to vary materially from those in the forward-looking statements are set first in Duck Creek's registration statement on Form S-1, as declared from time to time, including under the caption 'Risk Factors.' The released forward-looking statement declares only the date of this release. 

Duck Creek accepts no obligation to review or publicly update any forward-looking statement, no matter if it is a result of new information, future developments, or otherwise, except as might be needed by any applicable laws.


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