Extract from Victoria Hudgins and Rhys Dipshan’s article “E-Discovery Provider DISCO Debuts on the New York Stock Exchange”
Add e-discovery provider DISCO to the growing list of legal tech companies being offered for exchange on the public market. Today, the Austin, Texas-based company announced it has gone public, listing on the New York Stock Exchange (NYSE).
DISCO is offering 7 million shares of its common stock priced at $32 per share. Underwriters also have the opportunity to purchase an additional 500,000 shares from DISCO and up to an additional 200,00 shares of stock from the selling stockholder named in the prospectus at the initial public offering price. DISCO said it will not receive any proceeds from the sale of shares by the selling stockholder.
The company will be traded under the “LAW” symbol on the NYSE. The initial public offering is expected to close by Friday, according to a press release provided by DISCO.
DISCO has seen its ups and downs in the run up to an IPO. In April 2020, the company laid off an unspecified amount of employees to weather the sudden shutdown of courts as COVID-19 paused many discovery matters.