CCC Intelligent Solutions Announces Pricing Of Upsized Secondary Offering Of 22M Shares Of Common Stock, Up From The Previously Announced 20M Shares
Portfolio Pulse from Benzinga Newsdesk
CCC Intelligent Solutions Holdings Inc. (CCCS) has upsized its secondary offering from 20 million to 22 million shares. The shares are being sold by affiliates of Advent International, L.P., and the company will not receive any proceeds from the sale. The offering is expected to close on January 8, 2024, and is being managed by J.P. Morgan, Barclays, and Citigroup. The offering is made under an effective shelf registration statement filed with the SEC.
January 04, 2024 | 1:11 pm
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CCC Intelligent Solutions has upsized its secondary offering to 22 million shares, which may dilute existing shareholders but will not provide the company with any proceeds.
The upsizing of the secondary offering could lead to dilution of existing shares, which typically puts downward pressure on the stock price. However, since the company is not receiving any proceeds, it does not directly benefit from the offering.
CONFIDENCE 90
IMPORTANCE 75
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