secwatch / observer
8-K filed March 30, 2023, 7:59 PM ET CIK 0001160951
M&A confidence high sentiment neutral materiality 1.00

DUCK CREEK TECHNOLOGIES, INC.: M&A transaction — Vista Equity Partners completes acquisition of Duck Creek for $19/share, $2.6B

DUCK CREEK TECHNOLOGIES, INC.

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Maneet Saroya

Director
DUCK CREEK TECHNOLOGIES, INC.
Filed
March 30, 2023, 7:59 PM ET
all of the members of the board of directors of the Company immediately prior to consummation of the Merger resigned as directors of the Company and Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin and Michael Jackowski were appointed as directors of the Company.
Appointed

Chad Martin

Director
DUCK CREEK TECHNOLOGIES, INC.
Filed
March 30, 2023, 7:59 PM ET
all of the members of the board of directors of the Company immediately prior to consummation of the Merger resigned as directors of the Company and Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin and Michael Jackowski were appointed as directors of the Company.
Appointed

Jeffrey Wilson

Director
DUCK CREEK TECHNOLOGIES, INC.
Filed
March 30, 2023, 7:59 PM ET
all of the members of the board of directors of the Company immediately prior to consummation of the Merger resigned as directors of the Company and Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin and Michael Jackowski were appointed as directors of the Company.
Appointed

Jack Dillon

Director
DUCK CREEK TECHNOLOGIES, INC.
Filed
March 30, 2023, 7:59 PM ET
all of the members of the board of directors of the Company immediately prior to consummation of the Merger resigned as directors of the Company and Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin and Michael Jackowski were appointed as directors of the Company.
Appointed

Michael Jackowski

Director
DUCK CREEK TECHNOLOGIES, INC.
Filed
March 30, 2023, 7:59 PM ET
all of the members of the board of directors of the Company immediately prior to consummation of the Merger resigned as directors of the Company and Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin and Michael Jackowski were appointed as directors of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Maneet Saroya was appointed as Director at DUCK CREEK TECHNOLOGIES, INC..

Action
appointed
Role
Director
Exact text from the filing
all of the members of the board of directors of the Company immediately prior to consummation of the Merger resigned as directors of the Company and Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin and Michael Jackowski were appointed as directors of the Company.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Chad Martin was appointed as Director at DUCK CREEK TECHNOLOGIES, INC..

Action
appointed
Role
Director
Exact text from the filing
all of the members of the board of directors of the Company immediately prior to consummation of the Merger resigned as directors of the Company and Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin and Michael Jackowski were appointed as directors of the Company.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Jeffrey Wilson was appointed as Director at DUCK CREEK TECHNOLOGIES, INC..

Action
appointed
Role
Director
Exact text from the filing
all of the members of the board of directors of the Company immediately prior to consummation of the Merger resigned as directors of the Company and Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin and Michael Jackowski were appointed as directors of the Company.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Jack Dillon was appointed as Director at DUCK CREEK TECHNOLOGIES, INC..

Action
appointed
Role
Director
Exact text from the filing
all of the members of the board of directors of the Company immediately prior to consummation of the Merger resigned as directors of the Company and Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin and Michael Jackowski were appointed as directors of the Company.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Jackowski was appointed as Director at DUCK CREEK TECHNOLOGIES, INC..

Action
appointed
Role
Director
Exact text from the filing
all of the members of the board of directors of the Company immediately prior to consummation of the Merger resigned as directors of the Company and Maneet Saroya, Jeffrey Wilson, Jack Dillon, Chad Martin and Michael Jackowski were appointed as directors of the Company.
View on SEC.gov
Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

DUCK CREEK TECHNOLOGIES, INC.: Amended and restated Bylaws.

Change
bylaw amendment
Exact text from the filing
the Amended and Restated Bylaws of the Company, as in effect immediately prior to the Effective Time, were amended and restated in their entirety to be in the form of the Bylaws of Merger Sub as in effect immediately prior to the Effective Time (except for provisions with respect to exculpation, indemnification, advancement of expenses and limitation of director, officer and employee (or comparable) liability) (the “ Bylaws ”).
View on SEC.gov
Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

DUCK CREEK TECHNOLOGIES, INC.: Amended and restated Certificate of Incorporation.

Change
charter amendment
Exact text from the filing
the Amended and Restated Certificate of Incorporation of the Company, as in effect immediately prior to the Effective Time, was amended and restated in its entirety to be in the form of the Certificate of Incorporation set forth in Exhibit A to the Merger Agreement (the “ Certificate of Incorporation ”).
View on SEC.gov
M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

DUCK CREEK TECHNOLOGIES, INC. underwent a change of control involving Disco Parent, LLC for $19.00 per share in cash (closed 2023-03-30).

Action
change of control
Counterparty
Disco Parent, LLC
Consideration
$19.00 per share in cash
Closing
2023-03-30
Exact text from the filing
Creek Common Stock ”) outstanding immediately prior to the Effective Time was automatically cancelled and extinguished and automatically converted into the right to receive $19.00 in cash, without interest (the “ Merger Consideration ”). Pursuant to the Merger Agreement, at the Effective Time: • each award of restricted Duck Creek Common Stock issued under
View on SEC.gov
Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DUCK CREEK TECHNOLOGIES, INC. terminated Amended and Restatement Agreement to Credit Agreement with Disco Topco Holdings (Cayman), L.P., Duck Creek Technologies LLC, Bank of America, N.A. (effective 2023-03-30).

Action
termination
Agreement
credit facility
Counterparty
Disco Topco Holdings (Cayman), L.P., Duck Creek Technologies LLC, Bank of America, N.A.
Effective
2023-03-30
Exact text from the filing
Concurrently with the closing of the Merger, the Company repaid all loans and terminated all credit commitments outstanding under the Amended and Restatement Agreement to Credit Agreement, dated as of October 22, 2021 (as amended by Amendment No. 1 to Credit Agreement, dated as of November 8, 2022), by and among Disco Topco Holdings (Cayman), L.P., Duck Creek Technologies LLC, Bank of America, N.A., as Administrative Agent, Collateral Agent, L/C Issuer and Swing Line Lender, BofA Securities, Inc., Goldman Sachs Bank USA and JPMorgan Chase Bank, N.A., as Joint Lead Arrangers and Joint Bookrunners, and the other lenders from time to time party thereto.
View on SEC.gov
Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DUCK CREEK TECHNOLOGIES, INC. entered into Credit Agreement with Alter Domus (US) LLC valued at $650 million term loan facility and $65 million revolving loan facility (effective 2023-03-30).

Action
entry
Agreement
credit facility
Counterparty
Alter Domus (US) LLC
Value
$650 million term loan facility and $65 million revolving loan facility
Effective
2023-03-30
Exact text from the filing
Parent, as the borrower, and the Company, as a guarantor, entered into that certain Credit Agreement with Alter Domus (US) LLC, as administrative agent and collateral agent, the lenders from time to time party thereto and the guarantors from time to time party thereto (the “ Credit Agreement ”), which provides for (i) a term loan facility in an aggregate principal amount equal to $650 million and (ii) a revolving loan facility in an aggregate principal amount equal to $65 million.
View on SEC.gov

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Source: SEC EDGAR
accession 0001140361-23-014664
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