The initial public offering price is expected to be between $19.00 and $21.00 per share, before underwriting discounts and commissions
Duck Creek Technologies, Inc. (“Duck Creek”), a provider of SaaS-delivered enterprise software to the property and casualty (“P&C”) insurance industry, announced today that it has launched its initial public offering of 15,000,000 shares of its common stock. The initial public offering price is expected to be between $19.00 and $21.00 per share, before underwriting discounts and commissions.
In addition, Duck Creek expects to grant the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. Duck Creek has applied to list its common stock on the Nasdaq Global Select Market under the symbol “DCT.”
Goldman Sachs & Co. LLC, J.P. Morgan and BofA Securities are serving as lead book-running managers for the proposed offering. Barclays and RBC Capital Markets are also acting as book-running managers for the proposed offering. JMP Securities, Needham & Company, Stifel, William Blair, D.A. Davidson & Co, Raymond James and Loop Capital Markets are acting as co-managers for the proposed offering.
Source: Company Press Release