DISCO Announces Closing of Initial Public Offering

Rhea-AI Summary

CS Disco announced the closing of its IPO, offering 7,700,000 shares of common stock at $32.00 per share. This includes the exercise of underwriters' options for an additional 500,000 shares from DISCO and 200,000 from a selling stockholder. Listings for trading commence on the NYSE under the symbol 'LAW'. The offering was registered with the SEC, effective July 20, 2021. Notably, DISCO did not receive proceeds from the shares sold by the selling stockholder.

Positive

• Successful closing of IPO, raising capital for growth.
• Inclusion of underwriters' options indicates strong market interest.

Negative

• DISCO did not receive proceeds from shares sold by the selling stockholder, limiting direct financial benefit.

CS Disco, Inc. (“DISCO”) today announced the closing of its initial public offering of 7,700,000 shares of its common stock at a price to the public of $32.00 per share, including the full exercise by the underwriters of their option to purchase up to an additional 500,000 shares of common stock from DISCO and up to an additional 200,000 shares of common stock from the selling stockholder named in the prospectus. DISCO did not receive any proceeds from the sale of shares by the selling stockholder. The shares are listed for trading on the New York Stock Exchange under the symbol “LAW”.

J.P. Morgan Securities LLC and BofA Securities Inc. acted as lead book-running managers and representatives of the underwriters for the offering. Citigroup Global Markets, Inc. and Jefferies LLC also acted as book-running managers for the offering, and Canaccord Genuity LLC, Cowen and Company, LLC, Needham & Company LLC, Stifel, Nicolaus & Company, Incorporated and Loop Capital Markets LLC acted as co-managers for the offering.

A registration statement relating to the offering has been filed with the Securities and Exchange Commission and was declared effective on July 20, 2021. The offering was made only by means of a prospectus forming part of the effective registration statement relating to the offering. Copies of the final prospectus may be obtained from: 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 prospectus-eq_fi@jpmorganchase.com and BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210723005485/en/

FAQ

What is the total number of shares offered in CS Disco's IPO?

CS Disco offered a total of 7,700,000 shares in its IPO.

At what price per share was CS Disco's IPO priced?

The IPO was priced at $32.00 per share.

What is the stock symbol for CS Disco on the New York Stock Exchange?

The stock symbol for CS Disco is 'LAW'.

When was the registration statement for CS Disco's IPO declared effective?

The registration statement was declared effective on July 20, 2021.