CCC Intelligent Solutions dips as Advent, Oak Hill slice stakes again

CCC Intelligent Solutions Holdings

27/06/2024 22:00

** CCC Intelligent Solutions'  CCCS.O  shares off 2.6% at
$11.20 in extended trading after P&C insurance software firm
announces secondary offering
    ** Co says private equity firms Advent International and Oak
Hill Capital to sell 30 mln shares
    ** About a month ago, Advent and Oak Hill combined to
offload 50 mln shares in secondary offering priced at $11.50
    ** Currently, Advent owns ~164.3 mln shares for ~26% stake,
while Oak Hill holds ~33.1 mln shares for ~5% stake
    ** BofA and Goldman Sachs jt bookrunners for this latest
offering
    ** CCCS shares finished flat on Thurs at $11.50

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))