Reported Earlier, CCC Intelligent Solutions Prices Secondary Offering Of 50M Common Shares At $11.50/Share
Portfolio Pulse from Benzinga Newsdesk
CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) has priced a secondary offering of 50 million common shares at $11.50 per share. The offering is by affiliates of Advent International and Oak Hill Capital Partners, and the company will not receive any proceeds from the sale. The offering is expected to close around May 30, 2024, pending customary closing conditions.
May 29, 2024 | 6:32 am
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CCC Intelligent Solutions Holdings Inc. has announced a secondary offering of 50 million shares at $11.50 per share. The company will not receive any proceeds from this sale, which is expected to close around May 30, 2024.
The secondary offering increases the supply of CCCS shares in the market, which could put downward pressure on the stock price in the short term. Additionally, the company will not receive any proceeds from this sale, which may be viewed negatively by investors.
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