Duck Creek Technologies, Inc. (“Duck Creek”), a provider of SaaS-delivered enterprise software to the property and casualty (“P&C”) insurance industry, announced today the pricing of its initial public offering of 15,000,000 shares of its common stock at a price of $27.00 per share.
The shares are expected to begin trading on the Nasdaq Global Select Market on August 14, 2020 under the symbol “DCT.” The offering is expected to close on August 18, 2020 subject to customary closing conditions. The underwriters have 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.
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.
This offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained, when available, for free by visiting EDGAR on the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov. Alternatively, copies of the final prospectus, when available, may be obtained for free from the offices of Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 Wall Street, New York, New York 10282, by telephone at (866) 471-2526 or by email at email@example.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, by telephone at (866) 803-9204 or by email at firstname.lastname@example.org; or BofA Securities, Inc., Attn: Prospectus Department, 200 North College Street, 3rd floor, Charlotte, NC 28255 or by email at email@example.com.
The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.
The registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 Duck Creek
Duck Creek Technologies is a leading provider of core system solutions to the P&C and General insurance industry. By accessing Duck Creek OnDemand, the company’s enterprise Software-as-a-Service solution, insurance carriers are able to navigate uncertainty and capture market opportunities faster than their competitors. Duck Creek’s functionally-rich solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand.