CCC Intelligent Solutions announces offering of 50M common shares for holders

CCC Intelligent Solutions Holdings announced the proposed secondary offering of 50M shares of the company’s common stock by affiliates of Advent International. The company will not receive any proceeds from the sale of the shares being offered by the selling stockholders. In connection with the offering, the company intends to purchase from the underwriters 25M shares of the company’s common stock as part of the offering at a price per share equal to the price per share at which the underwriters purchase shares of the company’s common stock in the offering. The company intends to fund the concurrent repurchase with cash on hand. J.P. Morgan Securities and Morgan Stanley & Co. are acting as joint book-running managers for the offering.