CCC Intelligent Solutions Announced Proposed Secondary Offering of 50M Shares of Common Stock, including Concurrent Common Stock Repurchase
Portfolio Pulse from Charles Gross
CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) has announced a proposed secondary offering of 50 million shares of its common stock by affiliates of Advent International, L.P. The company also plans to repurchase 25 million shares as part of the offering. The offering and repurchase will be managed by J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.
November 08, 2023 | 9:28 pm
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CCC Intelligent Solutions is planning a secondary offering of 50 million shares and a concurrent repurchase of 25 million shares. This could potentially dilute the stock's value but the repurchase may offset this.
Secondary offerings can dilute the value of existing shares, which could negatively impact the stock price. However, the company's plan to repurchase 25 million shares could offset this dilution, stabilizing the stock price. The final impact will depend on the market's reaction to these actions.
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