CS Disco, which provides software for ediscovery, legal document review, and case management, raised $224 million by offering 7 million shares at $32, above the upwardly range of $30 to $31. The company originally planned to offer 7 million shares at $26 to $29, before raising the range on Monday.
DISCO 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. As of March 2021, the company's solution held more than 10 billion files and 2.5 petabytes of data, and it used more than 14 billion serverless compute calls in 2021 to process and enrich data for its customers.
CS Disco plans to list on the NYSE under the symbol LAW. J.P. Morgan, BofA Securities, Citi, and Jefferies acted as joint bookrunners on the deal.
