Duck Creek Technologies, Inc.

Duck Creek Technologies, Inc. (DCT) priced its initial public offering on Aug 17, 2020 at $27.00 per share, above its $23.00–$25.00 range, raising $405M. At the IPO price its market capitalization was about $3.47B. Goldman Sachs was lead-left underwriter, joined by J.P. Morgan, BofA Securities and Barclays and others. Skadden, Arps advised the company and Simpson Thacher advised the underwriters.

Duck Creek Technologies, Inc. provides software-as-a-service core systems for the property and casualty insurance industry. Its Duck Creek Platform supports carriers' core processes of policy administration, claims management and billing, with low-code configurability, and the company has over twenty years of domain expertise.

Status

IPO

Ticker

DCT

Priced

Aug 17, 2020

IPO price

$27.00

Price range

$23.00–$25.00

Raised

$405M

Market cap at IPO price

$3.47B

First filed

Jul 23, 2020

Underwriters

Goldman Sachs, J.P. Morgan, BofA Securities, Barclays, RBC Capital Markets, Citizens JMP, Needham, Stifel, William Blair, Raymond James and Loop Capital

Company counsel

Skadden, Arps

Underwriters' counsel

Simpson Thacher

Sector

Technology

Country / state

MA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.