Duck Creek Technologies (DCT) Announces Proposed 8M Share Common Offering
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Duck Creek Technologies, Inc. (NASDAQ: DCT) announced today that it and certain of its stockholders have commenced a proposed underwritten public offering of a total of 8,000,000 shares of Duck Creek’s common stock, including 7,920,000 shares to be offered by the selling stockholders and 80,000 shares to be offered by Duck Creek. Additionally, the selling stockholders expect to grant the underwriters a 30-day option to purchase up to 1,200,000 additional shares of Duck Creek’s common stock. 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.
Duck Creek intends to use the net proceeds from this offering to pay certain costs, fees and expenses incurred in effecting the registration of its common stock covered by the prospectus, including, without limitation, all registration and filing fees, Nasdaq listing fees and fees and expenses of its counsel and its independent registered public accountants. Duck Creek expects to use any remaining net proceeds from this offering for general corporate purposes. Duck Creek will not receive any proceeds from the sale of shares by the selling stockholders.
Goldman Sachs & Co. LLC, J.P. Morgan and BofA Securities are serving as lead book-running managers for the proposed offering.
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