Intel stock spikes after report of possible US government stake
CHICAGO - Advent International, L.P. affiliates plan to sell 30 million shares of CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS), currently trading at $9.96, in a secondary offering, according to a press release issued Tuesday. The company, with a market capitalization of $6.48 billion, has seen its shares decline about 18% year-to-date.
The offering consists entirely of existing common stock held by the selling stockholders, with CCC Intelligent Solutions not receiving any proceeds from the transaction. Goldman Sachs & Co. LLC will serve as the book running manager for the offering.
The secondary offering will be conducted through an effective shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission in October 2022.
CCC Intelligent Solutions provides SaaS platform services for the insurance industry. The company’s IX Cloud platform uses artificial intelligence to connect more than 35,000 businesses across the insurance ecosystem, including insurers, repair facilities, automakers, and parts suppliers.
The company recently filed its annual Form 10-K with the SEC on February 25, 2025.
The announcement did not specify pricing details or the expected closing date for the offering. The transaction remains subject to market conditions and customary closing requirements, according to the press release statement.
In other recent news, CCC Intelligent Solutions Holdings Inc. reported its second-quarter earnings for 2025, surpassing both revenue and earnings per share (EPS) forecasts. The company’s EPS came in at $0.09, exceeding the expected $0.08, while revenue reached $260.5 million, above the forecasted $256.2 million. These results reflect a positive earnings surprise for the company. Additionally, analysts from various firms have been closely monitoring CCC Intelligent Solutions, although specific upgrades or downgrades were not detailed in the recent reports. The earnings call highlighted the company’s performance, providing investors with insights into its financial health. These developments are part of a series of recent updates from CCC Intelligent Solutions.
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