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

Eric Wei, a Managing Director at Advent International, reports the sale of CCC Intelligent Solutions Holdings Inc. shares following a public offering.

Summary

• Eric Wei, a Managing Director at Advent International, filed a Form 4 detailing changes in beneficial ownership of CCC Intelligent Solutions Holdings Inc. (CCCS) stock.
• The filing reports the sale of common stock on May 30, 2024, in connection with an underwritten public offering.
• The shares were sold at $11.43 per share, net of underwriting discounts and commissions.
• The sales involved shares held by Cypress Investor Holdings, L.P., Advent International GPE VIII-C Limited Partnership, and GPE VIII CCC Co-Investment (Delaware) Limited Partnership.
• Wei disclaims beneficial ownership of the shares except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: Neutral sentiment as it reports a standard transaction (share sale) without expressing any positive or negative outlook.

Management Comments

• The Reporting Person disclaims Section 16 beneficial ownership of the shares reported herein except to the extent of his pecuniary interest therein, if any, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all the reported shares for purposes of Section 16 or any other purpose.

Industry Context

This announcement reflects a significant shareholder, Advent International, reducing its stake in CCC Intelligent Solutions through a public offering, which is a common liquidity event for private equity firms.

Stakeholder Impact

• The sale of shares by a major shareholder like Advent International could potentially impact investor sentiment and the stock price of CCC Intelligent Solutions Holdings Inc.

Key Dates