CCC Intelligent Solutions Holdings Inc. Announces Pricing of Secondary Offering of Common Stock by Selling Stockholders
April 06 2022 - 11:05PM
Business Wire
CCC Intelligent Solutions Holdings Inc. (the “Company”) (NYSE:
CCCS) today announced the pricing of the previously announced
underwritten public offering of 20,000,000 shares of the Company’s
common stock by existing stockholders of the Company (the “Selling
Stockholders”), at a price to the public of $9.70 per share (the
“Offering”). The Offering is expected to close on or about April
11, 2022, subject to the satisfaction of customary closing
conditions. In addition, the Selling Stockholders have granted the
underwriters a 30-day option to purchase up to an additional
3,000,000 shares of the Company’s common stock. The Offering
consists entirely of shares of common stock to be sold by the
Selling Stockholders, and the Company will not receive any proceeds
from the Offering, including from any exercise by the underwriters
of their option to purchase additional shares of the Company’s
common stock.
Morgan Stanley, Citigroup, Barclays, Goldman Sachs & Co.
LLC, BofA Securities, Evercore ISI, Piper Sandler, William Blair
and Wolfe | Nomura Alliance are acting as joint book-running
managers for the Offering. Barrington Research and CJS Securities
are acting as co-managers.
The Company has filed a registration statement on Form S-1
(Registration No. 333-259142) (including a base prospectus), which
has been declared effective by the Securities and Exchange
Commission (“SEC”). The Company has also filed a preliminary
prospectus supplement with the SEC for the Offering. The Offering
is being made only by means of a prospectus supplement and an
accompanying prospectus. You may get these documents for free by
visiting EDGAR on the SEC website at www.sec.gov. Alternatively,
copies of the preliminary prospectus supplement and accompanying
prospectus, as well as copies of the final prospectus supplement
once available, may be obtained by contacting: Morgan Stanley &
Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, NY 10014, by telephone: (866) 718-1649, or
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717 (Tel: 800-831-9146).
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
CCC Intelligent Solutions
Holdings Inc. (NYSE: CCCS), is a leading SaaS platform for the
multi-trillion-dollar P&C insurance economy powering operations
for insurers, repairers, automakers, part suppliers, lenders, and
more. CCC cloud technology connects more than 30,000 businesses
digitizing mission-critical workflows, commerce, and customer
experiences. A trusted leader in AI, IoT, customer experience,
network and workflow management, CCC delivers innovations that keep
people’s 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. 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, competition, including
technological advances and new products marketed by competitors;
the execution of our growth strategy, the health of our industry,
claim volumes and market conditions; changes to applicable laws and
regulations and other risks and uncertainties, including those
included under the header “Risk Factors” in our Form 10-K filed
with the SEC on March 1, 2022, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220406006072/en/
INVESTOR CONTACT Brian Denyeau ICR, LLC IR@cccis.com
646.277.1251
MEDIA CONTACT Michelle Hellyar Director Public Relations,
CCC Intelligent Solutions Inc. mhellyar@cccis.com 773.791.3675
CCC Intelligent Solutions (NYSE:CCCS)
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