Advent International Amends CCC Intelligent Solutions Stake Filing

TL;DR

Advent International updated their CCC Intelligent Solutions filing on 3/6/24. Ownership details TBD.

AI Summary

Advent International, L.P. and its affiliates have filed an SC 13D/A amendment on March 6, 2024, related to their holdings in CCC Intelligent Solutions Holdings Inc. The filing indicates a change in their beneficial ownership, though specific new percentages or dollar amounts are not detailed in the provided text. This filing is an update to previous disclosures regarding their investment in the company.

Why It Matters

This filing signals a potential shift in the ownership structure or strategy of CCC Intelligent Solutions Holdings Inc., which could impact its stock performance and future business decisions.

Risk Assessment

Risk Level: medium — Amendments to SC 13D filings often indicate significant changes in a major shareholder's position, which can lead to increased volatility.

Key Players & Entities

• Advent International, L.P. (company) — Filing entity
• CCC Intelligent Solutions Holdings Inc. (company) — Subject company
• Advent International GP, LLC (company) — Group member
• Dragoneer Growth Opportunities Corp. (company) — Former company name of CCC Intelligent Solutions Holdings Inc.

FAQ

Key Financial Figures

• $0.0001 — ame of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securitie
• $11.33 — ares of Common Stock, respectively, for $11.33 per share, net of underwriting discount

Filing Documents

• ef20023326_sc13da.htm (SC 13D/A) — 288KB
• 0001140361-24-011711.txt ( ) — 290KB

of the Schedule 13D is hereby amended to include the following

Item 4 of the Schedule 13D is hereby amended to include the following: On March 4, 2024, Cypress Investor Holdings, L.P. ("Cypress Investor"), GPE VIII CCC Co-Investment (Delaware) Limited Partnership ("GPE VIII CCC Co-Investment") and Advent International GPE VIII-C Limited Partnership, ("Advent International VIII-C" and together with Cypress Investor and GPE VIII CCC Co-Investment, the "Advent Funds") sold 30,195,949 shares, 10,014,164 shares and 955,026 shares of Common Stock, respectively, for $11.33 per share, net of underwriting discounts and commissions (the "March 2024 Offering"), pursuant to that certain Underwriting Agreement by and among the Advent Funds, the Issuer and the underwriters (the "March 2024 Underwriting Agreement"), including pursuant to the underwriters' exercise of their over-allotment option . In connection with the March 2024 Offering, the Advent Funds entered into customary "lock-up" agreements with the underwriters, dated February 29, 2024 (the "March 2024 Lock-up Agreements"), pursuant to which the Advent Funds generally agreed, subject to certain exceptions, not to sell, transfer, or otherwise dispose of any shares of Common Stock or securities convertible into, or exchangeable or exercisable for, shares of Common Stock, for 30 days after the date of the final prospectus relating to the March 2024 Offering without prior written consent from the underwriters. The foregoing descriptions of the March 2024 Underwriting Agreement and the March 2024 Lock-up Agreements do not purport to be complete and are qualified in their entirety by reference to the full text of the March 2024 Underwriting Agreement, a copy of which is attached as Exhibit 99.2, and a form of the March 2024 Lock-up Agreement attached as Exhibit A to the March 2024 Underwriting Agreement, both of which are incorporated by reference herein. Item 5. Interest in Securities of the Issuer

(a)-(c) of the Schedule 13D are hereby amended and restated as follows

Item 5(a)-(c) of the Schedule 13D are hereby amended and restated as follows: The information set forth or incorporated by reference in Items 2 and 6 of this Statement is incorporated by reference in this Item 5. (a) and (b) The responses of the Reporting Persons to rows (7) through (13) of the cover pages of this Schedule 13D are incorporated herein by reference. As of March 4, 2024, the Reporting Persons beneficially owned in the aggregate 222,588,510 shares of Common Stock, which represents approximately 36.8% of the outstanding shares (based on 604,651,284 shares of Common Stock of the Issuer outstanding as of February 21, 2024, as reported in the Issuer's prospectus supplement on Form 424(b)(3) filed with the Securities and Exchange Commission on March 4, 2024, the "Outstanding Shares"). The shares beneficially owned by the Reporting Persons were directly held as follows: 163,275,807 shares held directly by Cypress Investor, 5,164,022 shares directly held by Advent International VIII-C and 54,148,681 shares held directly by GPE VIII CCC Co-Investment. Cypress Investment GP, LLC ("Cypress GP"), as general partner of Cypress Investor, may be deemed to beneficially own the 163,275,807 shares held directly by Cypress Investor. GPE VIII GP S..r.l ("Advent GP Luxembourg"), as general partner of Advent International VIII-C, may be deemed to beneficially own the 5,164,022 shares held directly by Advent International VIII-C. GPE VIII GP Limited Partnership ("Advent GP Cayman"), as general partner of GPE VIII CCC Co-Investment, may be deemed to beneficially own the 54,148,681 shares held directly by GPE VIII CCC Co-Investment. Advent International GPE VIII, LLC ("Advent VIII GP"), as manager of Advent GP Luxembourg and general partner of Advent GP Cayman, may be deemed to beneficially own the 59,312,703 shares held directly by Advent International VIII-C and GPE VIII CCC Co-Investment. Advent International GP, LLC, as general partner of Advent International, L.P. ("Adv

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View this SC 13D/A filing on SEC EDGAR