Duck Creek Technologies (Nasdaq: DCT) has announced a public offering of 8,000,000 shares of its common stock, priced at $41.00 per share, with the offering set to close on November 13, 2020. The sale is conducted by certain stockholders, and Duck Creek will not receive any proceeds. Underwriters have a 30-day option to purchase an additional 1,200,000 shares. J.P. Morgan, Goldman Sachs, and BofA Securities are leading the offering. The registration statement for the offering has been declared effective by the SEC.
Duck Creek Technologies (Nasdaq: DCT) announced an underwritten public offering of 8 million shares of common stock by certain stockholders. An additional 1.2 million shares may be sold if underwriters exercise their option. Duck Creek will not receive proceeds from this offering, which is subject to market conditions.
The offering is being managed by J.P. Morgan, Goldman Sachs & Co. LLC, and BofA Securities, with a preliminary registration statement filed with the SEC. The offering will be made only by means of a prospectus once effective.
Duck Creek Technologies (NASDAQ: DCT) reported strong financial results for Q4 FY2020, with a 54% year-over-year increase in subscription revenue and a total revenue of $58.3 million, a 22% rise from Q4 FY2019. SaaS ARR reached $95.6 million, up 85% year-over-year. Despite a GAAP net loss of $21.5 million, non-GAAP net income was $2.3 million. The company expects Q1 FY2021 revenue between $55.0 and $56.0 million. Duck Creek's successful IPO and the shift to cloud technologies in the P&C insurance industry mark a pivotal time for the company.
Duck Creek Technologies (NASDAQ: DCT) will announce its financial results for Q4 and the full year ending August 31, 2020, after market close on October 20, 2020. Following this, a conference call will be held at 5:00 p.m. ET to discuss the results and future outlook. Participants can join via phone or through a live webcast on the company's Investor Relations site. The call will be available for replay until November 3, 2020. Duck Creek Technologies provides SaaS solutions for the P&C insurance industry, enabling faster response to market changes.
Duck Creek Technologies announced the pricing of its initial public offering (IPO) of 15,000,000 shares at $27.00 per share, set to begin trading on Nasdaq under the symbol DCT on August 14, 2020. The IPO is expected to close on August 18, 2020, subject to standard conditions. Underwriters have a 30-day option to purchase an additional 2,250,000 shares. Goldman Sachs, J.P. Morgan, and BofA Securities are the lead managers. The company provides SaaS solutions for the property and casualty insurance industry, aiming to help insurers capitalize on market opportunities.