CCC Intelligent Solutions Prices Upsized Secondary Offering Of 43M Common Shares At $11.42/Share
Portfolio Pulse from Benzinga Newsdesk
CCC Intelligent Solutions has upsized its secondary offering to 43 million shares at $11.42 each, with an option for underwriters to buy an additional 6.45 million shares. The offering is expected to close by March 4, 2024.
March 01, 2024 | 8:31 am
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CCC Intelligent Solutions has increased its secondary offering to 43 million shares at $11.42 each, potentially expanding to 49.45 million shares if underwriters exercise their option.
The upsizing of CCC Intelligent Solutions' secondary offering could lead to dilution of existing shares, potentially putting downward pressure on the stock price in the short term. However, the additional capital raised could be beneficial for the company's growth strategy.
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