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CS Disco Selling Shareholders Offload $292M Stock Via Equity Offering

  • CS Disco Inc (NYSE: LAW) priced 5.5 million shares by selling shareholders at $53 per share to raise $291.5 million in a secondary public offering.
  • The offer price implies a 0.4% discount to CS Disco’s September 14 closing price of $53.23. The company’s stock declined 7% yesterday, after the announcement about the stock sale.
  • The underwriters have a 30-day option to purchase additional shares up to 0.55 million.
  • CS Disco will not receive any proceeds from the share sale.
  • Price Action: LAW shares closed lower by 7.36% at $53.23 on Tuesday.

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