CS Disco Inc. has set terms of its initial public offering, in which the Texas-based provider of legal document review and ediscovery services to law firms is expected to be valued at up to $1.63 billion. The company is looking to raise up to $203.0 million, as it plans to sell 7.0 million shares in the IPO, which is expected to price between $26 and $29 a share. The company expects to have about 56.4 million shares outstanding after the IPO. The stock is expected to list on the NYSE under the ticker symbol "LAW." J.P. Morgan and BofA Securities are the lead underwriters. Disco recorded a net loss of $23.0 million on revenue of $68.4 million in 2020, after a loss of $29.9 million on revenue of $48.6 million in 2019. The company is going public at a time that the Renaissance IPO ETF has ticked up 0.9% over the past three months while the S&P 500 has gained 5.9%.
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