Simpson Thacher represented the underwriters, led by Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and BofA Securities, Inc., in connection with the initial public offering by Duck Creek Technologies, Inc. (“Duck Creek”) of 17,250,000 shares of its common stock, inclusive of the underwriters’ full exercise of their option to purchase additional shares, which raised approximately $465 million in gross proceeds. The initial public offering closed on August 18, 2020.
Duck Creek is the leading Software-as-a-Service provider of core systems for the P&C insurance industry.
The Simpson Thacher team for this transaction included Art Robinson, Hui Lin, Ben Heriaud and Pinto Adhola (Capital Markets); Tristan Brown and Alyssa Ohanian (Executive Compensation and Employee Benefits); Shari Ness (Public Company Advisory Practice); Jonathan Cantor, Jasmine Hay and Gal Shemer (Tax); Jennie Getsin (FINRA & Blue Sky); Corina McIntyre (IP); and Tim Gallagher (Real Estate). Associates Jessica Asrat and Michael Ratay also provided valuable assistance.