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CHICAGO – CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS), a SaaS platform provider for the property and casualty (P&C) insurance economy, increases its secondary offering from 40 million shares to 43 million shares at a public offering price of $11.42 per share. Did. .
Selling stockholders Advent International, LP and affiliates of Oak Hill Capital Partners also granted the underwriters a 30-day option to purchase up to an additional 6.45 million shares.
This product is managed by Goldman Sachs & Co (NYSE:). LLC, BofA Securities and JP Morgan are acting as joint bookkeepers and the transaction is expected to close on or about March 4, 2024, subject to standard closing conditions. It is important to note that CCC Intelligent Solutions will not receive any financial benefit from this sale as all proceeds will go to the selling shareholders.
The transaction occurs after the company files an effective shelf registration statement with the Securities and Exchange Commission on October 14, 2022. The offering will be made through a prospectus supplement and accompanying base prospectus available on the SEC's website.
CCC Intelligent Solutions is known for its cloud technology that connects more than 35,000 businesses and supports the operations of insurance companies, repair companies, automakers, parts suppliers, finance companies, and more. The company is known as a leader in artificial intelligence, IoT, customer experience, networks, and workflow management.
Investors are advised that this press release contains forward-looking statements that are based on current information and beliefs. These statements are subject to risks, uncertainties and other factors that could cause actual events or results to differ materially from those anticipated.
Risks include market conditions, the satisfaction of customary closing conditions for the offering, and the possibility that the offering will not be completed on the anticipated terms or at all. These forward-looking statements should not be construed as expressing our views beyond the date of this press release.
This news article is based on a press release statement from CCC Intelligent Solutions Inc. and does not constitute an offer to sell or a solicitation of an offer to buy any securities.
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