CCC Intelligent Solutions (CCCS) Prices 65M Share Offering at $10.50/sh

CCC Intelligent Solutions Holdings Inc. (the “Company”) (NASDAQ: CCCS) today announced the pricing of the previously announced secondary offering of 65 million shares of the Company’s common stock (the “Offering”) by affiliates of Advent International, L.P. (the “Selling Stockholders”) at a price to the public of $10.50 per share, which represents an increase of 15 million shares from the previously announced size of the Offering. The Selling Stockholders granted the underwriters a 30-day option to purchase up to an additional 4,875,000 shares of the Company’s common stock. The Offering is expected to close on or about November 13, 2023, subject to the satisfaction of customary closing conditions. The Offering consists entirely of shares of the Company’s common stock to be sold by the Selling Stockholders, and 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 32.5 million 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 “Concurrent Repurchase”). The Company intends to fund the Concurrent Repurchase with cash on hand.

J.P. Morgan, Morgan Stanley, Citigroup, Barclays, Goldman Sachs & Co. LLC, BofA Securities, Evercore ISI, Piper Sandler, William Blair, and Stifel are acting as joint book-running managers for the Offering. Barrington Research and CJS Securities are acting as co-managers. The Offering is being made pursuant to an effective shelf registration statement on Form S-3 (Registration No. 333-267793), which has been filed with the Securities and Exchange Commission (“SEC”) and became effective on October 14, 2022. The Offering is being made only by means of a preliminary prospectus supplement and the accompanying base prospectus. You may get these documents for free, by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and the accompanying base prospectus, as well as copies of the final prospectus supplement once available, may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, by mail at 1155 Long Island Avenue, Edgewood, New York 11717, by telephone: (866) 803-9204, or by email at [email protected] or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street 2nd Floor, New York, New York 10014.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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