WASHINGTON (dpa-AFX) - CS Disco, Inc. (LAW), on Wednesday announced $53 per share as the pricing of an underwritten public offering of 5,500,000 shares of common stock by certain stockholders of DISCO. The Texas-based company is a legal technology company that offers artificial intelligence and cloud computing solutions related to legal matters.
DISCO would not be receiving any proceeds from the sale of shares by the selling stockholders.
The offering is expected to close on September 17. The selling stockholders have also granted the underwriters a 30-day option to purchase up to an additional 550,000 shares of common stock at the public offering price, less underwriting discounts and commissions.
J.P. Morgan Securities LLC and BofA Securities Inc. are acting as lead book-running managers and representatives for the underwriters for the offering. Citigroup Global Markets, Inc., Jefferies LLC and Piper Sandler & Co. are also acting as book-running managers for the offering.
Canaccord Genuity LLC, Cowen and Company, LLC, Needham & Company LLC, Stifel, Nicolaus & Company, Incorporated and Loop Capital Markets LLC are acting as co-managers for the offering.
Shares of CS Disco closed Tuesday's trading at $53.23, down $4.23 or 7.36 percent from previous close.
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