SAN FRANCISCO, Sept. 11, 2018 /PRNewswire/ -- DocuSign,
Inc. ("DocuSign") (Nasdaq: DOCU) announced today the
commencement of an underwritten public offering of 8,060,550 shares
of its common stock by certain selling stockholders. Such selling
stockholders also intend to grant the underwriters a 30-day option
to purchase up to an additional 1,209,082 shares of the DocuSign's
common stock. DocuSign will not receive any of the proceeds from
the sale of the shares of its common stock being offered by the
selling stockholders, and will bear the costs associated with the
sale of such shares, other than underwriting discounts and
commissions.
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Morgan Stanley, J.P. Morgan Securities LLC and Goldman Sachs
& Co. LLC are acting as lead book-running managers for the
proposed offering of common stock. Citigroup, BofA Merrill Lynch
and Deutsche Bank Securities are acting as additional book running
managers, and JMP Securities, KeyBanc Capital Markets, Piper Jaffray and William Blair are acting as co-managers, for the
proposed offering.
Pursuant to the proposed offering of common stock, DocuSign
announced today that Morgan Stanley and J.P. Morgan Securities LLC,
the lead book-running managers in DocuSign's recent initial public
offering, are releasing a lock-up restriction with respect to
certain shares of DocuSign's common stock held by certain of
DocuSign's directors. The release will take effect concurrently
with the proposed offering of common stock, and the shares of
DocuSign's common stock subject to the release may be sold only in
connection with the proposed offering of common stock. Except for
the sale pursuant to the proposed offering of common stock, the
lock-up restrictions from the initial public offering shall remain
in full force and effect.
Concurrently with the proposed public offering of common stock,
DocuSign is offering to qualified institutional buyers, in an
offering exempt from registration under the Securities Act of 1933,
as amended, $400,000,000 aggregate
principal amount of convertible senior notes due 2023, which we
refer to as the notes, or a total of $460,000,000 aggregate principal amount of notes
if the initial purchasers in the concurrent notes offering exercise
in full their option to purchase additional notes. The public
offering of common stock is not contingent upon the consummation of
the concurrent notes offering, and the concurrent notes offering is
not contingent upon the consummation of the public offering of
common stock.
The proposed offering of common stock will be made only by means
of a prospectus. A copy of the preliminary prospectus may be
obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus
Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or email at
prospectus@morganstanley.com; J.P. Morgan Securities LLC,
Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, telephone:
1-866- 803-9204 or email at prospectus-eq_fi@jpmchase.com; or
Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200
West Street, New York, NY 10282 or
email at prospectus-ny@ny.email.gs.com.
A registration statement relating to the offering of common
stock has been filed with the Securities and Exchange Commission
but has not yet become effective. The shares of common stock may
not be sold, nor may offers to buy be accepted, prior to the time
the registration statement becomes effective. This press release is
neither an offer to sell nor a solicitation of an offer to buy any
securities, nor shall it constitute an offer, solicitation or sale
of any securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or
jurisdiction.
About DocuSign
Founded in 2003, DocuSign helps organizations connect and
automate how they prepare, sign, act-on, and manage agreements. As
part of its cloud-based System of Agreement Platform, DocuSign
offers eSignature—the market-leading way to sign electronically on
practically any device, from almost anywhere, at any time. Today,
more than 425,000 customers and hundreds of millions of users in
over 180 countries use DocuSign to accelerate the process of doing
business and simplify people's lives.
Investor Relations:
Annie Leschin
VP Investor Relations
415-489-1005
annie.leschin@docusign.com
Media Relations:
Adrian Wainwright
Head of Communications
media@docusign.com
Forward-Looking Statements
This press release contains "forward-looking" statements that
are based on management's beliefs and assumptions and on
information currently available to management. Forward-looking
statements include statements concerning the terms of the proposed
offering of common stock and concurrent private placement of
convertible notes and the completion, timing and size of the
proposed offering of common stock and concurrent private placement
of convertible notes. Forward-looking statements include all
statements that are not historical facts and can be identified by
terms such as "believe," "could," "potential," "will," "would" or
similar expressions and the negatives of those terms.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual events to
differ from DocuSign's plans. These risks include, but are not
limited to, market risks, trends and conditions, and those risks
included in the section titled "Risk Factors" in DocuSign's
Securities and Exchange Commission ("SEC") filings and reports,
including its Quarterly Report on Form 10-Q for the quarter ended
July 31, 2018 and other filings that
DocuSign makes from time to time with the SEC, which are available
on the SEC's website at www.sec.gov. In addition, forward-looking
statements contained in this press release are based on assumptions
that DocuSign believes to be reasonable as of this date. Except as
required by law, DocuSign assumes no obligation to update these
forward-looking statements as a result of new information, future
events, changes in expectations or otherwise.
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SOURCE DocuSign, Inc.