CS Disco, Inc. (“DISCO”) (NYSE:LAW), today announced the pricing
of an underwritten public offering of 5,500,000 shares of common
stock by certain stockholders of DISCO (the “Selling Stockholders”)
at a price of $53.00 per share. 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. DISCO will not
receive any proceeds from the sale of shares by the Selling
Stockholders.
The offering is expected to close on September 17, 2021, subject
to the satisfaction of customary closing conditions.
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, and 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.
A registration statement on Form S-1 relating to these
securities has been filed with the Securities and Exchange
Commission and was declared effective on September 14, 2021. The
offering is being made only by means of a prospectus forming part
of the effective registration statement relating to the offering.
Copies of the final prospectus, when available, 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.
About DISCO
DISCO (NYSE:LAW) provides a cloud-native, artificial
intelligence-powered legal solution that simplifies ediscovery,
legal document review and case management for enterprises, law
firms, legal services providers and governments. Our scalable,
integrated solution enables legal departments to easily collect,
process and review enterprise data that is relevant or potentially
relevant to legal matters.
References to “DISCO”, the “Company,” “our,” or “we” in this
press release refer to CS Disco, Inc. and its subsidiaries on a
consolidated basis.
Forward-Looking Statements
This press release contains forward-looking statements,
including, among other things, statements regarding the completion,
timing and size of the proposed offering. Words such as “may,”
“should,” “will,” “believe,” “expect,” “anticipate,” “target,”
“project,” and similar phrases that denote future expectation or
intent regarding DISCO’s financial results, operations, and other
matters are intended to identify forward-looking statements. You
should not rely upon forward-looking statements as predictions of
future events.
The outcome of the events described in these forward-looking
statements is subject to known and unknown risks, uncertainties,
and other factors that may cause DISCO’s actual results,
performance, or achievements to differ materially, including (i)
our history of operating losses, (ii) our limited operating
history, (iii) our ability to maintain and advance our innovation
and brand; (iv) our ability to effectively add new customers; (v)
our ability to effectively increase usage and penetration with our
existing customer base; (vi) our ability to expand our sales
coverage and establish a digital sales channel; (vii) DISCO’s
ability to expand internationally; (viii) our ability to extend and
strengthen our channel partnerships and integrations; (ix) our
ability to expand our offering portfolio to a wider range of legal
processes outside of our current core offerings; (x) our ability to
pursue strategic acquisitions and strategic investments to expand
the functionality and value of our solution; (xi) our ability to
comply or remain in compliance with laws and regulations that
currently apply or become applicable to our business in the
jurisdictions in which it operates; (xii) the potential that our
computer or electronic systems, applications or services, or those
of any third parties on whom we depend, fail or suffer security or
data privacy breaches or other unauthorized or improper access to,
use of, or destruction of our proprietary or confidential data,
employee data, or personal data; (xiii) our ability to compete
effectively with existing competitors and new market entrants;
(xiv) general market, political, economic, and business conditions;
and (xv) the impact that the ongoing COVID-19 pandemic and any
related economic downturn could have on our or our customers’
businesses, financial condition and results of operations.
The forward-looking statements contained in this press release
are also subject to additional risks, uncertainties, and factors,
including those more fully described in our filings with the
Securities and Exchange Commission, including our registration
statement on Form S-1 relating to this offering and our quarterly
report on Form 10-Q for the fiscal quarter ended June 30, 2021,
filed with the Securities and Exchange Commission on September 3,
2021. Further information on potential risks that could affect
actual results will be included in the subsequent periodic and
current reports and other filings that we make with the SEC from
time to time.
Forward-looking statements represent DISCO’s management’s
beliefs and assumptions only as of the date such statements are
made. We undertake no obligation to update any forward-looking
statements made in this press release to reflect events or
circumstances after the date of this press release or to reflect
new information or the occurrence of unanticipated events, except
as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210914006257/en/
Press Contact: Laura Wooster DISCO Corporate
Communications wooster@csdisco.com
Investor Relations Contact: April Scee ICR for DISCO
IR@csdisco.com 646-277-1219
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