Form 4: Advent International Sells Shares of CCC Intelligent Solutions Holdings Inc. in Public Offering

Advent International and related entities sold shares of CCC Intelligent Solutions Holdings Inc. in an underwritten public offering on March 4, 2024.

Summary

• Advent International, L.P. and affiliated entities, including Cypress Investor Holdings, L.P., Advent International GPE VIII-C Limited Partnership, and GPE VIII CCC Co-Investment (Delaware) Limited Partnership, have sold shares of CCC Intelligent Solutions Holdings Inc. (CCCS) in a public offering.
• The transactions occurred on March 4, 2024.
• The price per share was $11.33.
• Advent International, L.P. sold 30,195,949 shares directly.
• Cypress Investor Holdings, L.P. indirectly holds 163,275,807 shares.
• Advent International GPE VIII-C Limited Partnership indirectly holds 5,164,022 shares.
• GPE VIII CCC Co-Investment (Delaware) Limited Partnership indirectly holds 54,148,681 shares.
• The sales were part of an underwritten public offering, including the exercise of the underwriters' over-allotment option, detailed in the prospectus supplement filed on March 4, 2024.
• Following the reported transactions, Advent International, L.P. continues to hold shares indirectly through various entities.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reflects a standard transaction of share sales following a public offering. It's neither overwhelmingly positive nor negative.

Industry Context

Private equity firms like Advent International often reduce their stakes in portfolio companies after an initial investment period, particularly following a public listing. This sale is a continuation of that trend.

Comparison to Industry Standards

• Private equity firms commonly distribute shares after a company goes public.
• Blackstone sold shares of Bumble after its IPO.
• TPG sold shares of Spotify after its IPO.
• These sales are typical and allow the private equity firms to realize gains on their investments.

Stakeholder Impact

• The share sale may create short-term price volatility for shareholders.
• The reduction in Advent's stake could signal a shift in the company's ownership structure.

Key Dates