CCC Intelligent Solutions Announces Pricing of Secondary Offering of 30 Million Shares of Common Stock
CCC Intelligent Solutions Holdings announced the pricing of a secondary offering of 30 million shares of its common stock by affiliates of Advent International and Oak Hill Capital Partners. The shares will be sold at market prices through negotiated transactions. The offering, expected to close around July 1, 2024, will not provide any proceeds to CCC Intelligent Solutions as the shares are sold by the selling stockholders. BofA Securities and Goldman Sachs are acting as joint book running managers for this offering. The offering is made under a shelf registration statement effective since October 14, 2022, with details available on the SEC website.
- None.
- CCC Intelligent Solutions will not receive any proceeds from the 30 million shares being sold.
- Sale of a large number of shares by affiliates may indicate reduced confidence from significant shareholders.
- The increase in available shares could potentially dilute the stock's market value.
BofA Securities and Goldman Sachs & Co. LLC are acting as joint book running managers for the Offering. The Offering is being made pursuant to an effective shelf registration statement on Form S-3 (Registration No. 333-267793), which has been filed with the Securities and Exchange Commission (“SEC”) and became effective on October 14, 2022. The Offering is being made only by means of a prospectus supplement and the accompanying base prospectus. You may get these documents for free, including the prospectus supplement, once available, by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus supplement, once available, and the accompanying base prospectus may be obtained by contacting: BofA Securities, NC1-022-02-25, 201 North Tryon Street,
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ABOUT CCC INTELLIGENT SOLUTIONS
CCC Intelligent Solutions Inc. (CCC), a subsidiary of CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS), is a leading cloud platform for the multi-trillion-dollar P&C insurance economy, creating intelligent experiences for insurers, repairers, automakers, part suppliers, and more. The CCC Intelligent Experience (IX) Cloud, powered by proven AI and an innovative event-based architecture, connects more than 35,000 businesses to power customized applications and platforms for optimal outcomes, and personalized experiences that just work. Through purposeful innovation and the strength of its connections, CCC technologies empower the people and industry relied upon to keep lives moving forward when it matters most.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding the Offering, including the expected closing of the Offering. Such differences may be material. We cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, closing of the Offering on the anticipated terms or at all; market conditions; and the satisfaction of customary closing conditions related to the Offering; and other risks and uncertainties, including those included under the header “Risk Factors” in our Form 10-K filed with the SEC on February 28, 2024, which can be obtained, without charge, at the SEC’s website (www.sec.gov). The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240627900049/en/
INVESTOR CONTACT
Bill Warmington
VP, Investor Relations, CCC Intelligent Solutions Inc.
IR@cccis.com
312-229-2355
MEDIA CONTACT
Michelle Hellyar
Senior Director, Public Relations, CCC Intelligent Solutions Inc.
mhellyar@cccis.com
773-791-3675
Source: CCC Intelligent Solutions Inc.
FAQ
What is the recent stock offering announcement by CCC Intelligent Solutions (CCCS)?
When is the CCC Intelligent Solutions (CCCS) secondary offering expected to close?
Will CCC Intelligent Solutions (CCCS) receive proceeds from the secondary offering?
Who are managing the CCC Intelligent Solutions (CCCS) secondary offering?
What is the registration status of the CCC Intelligent Solutions (CCCS) secondary offering?
