Advent International Amends CCC Intelligent Solutions Holdings Filing

TL;DR

Advent International just updated its stake in CCC Intelligent Solutions. Watch for potential moves.

AI Summary

On June 3, 2024, Advent International, L.P. filed an SC 13D/A amendment regarding CCC Intelligent Solutions Holdings Inc. The filing indicates a change in beneficial ownership for the group members associated with Advent International, L.P., including entities like ADVENT INTERNATIONAL GP, LLC and CYPRESS INVESTMENT GP, LLC. This amendment pertains to their holdings in CCC Intelligent Solutions Holdings Inc., a company specializing in prepackaged software.

Why It Matters

This filing signals potential shifts in control or strategy for CCC Intelligent Solutions Holdings Inc. as a major investor, Advent International, updates its beneficial ownership disclosures.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate strategic shifts or potential future actions by significant investors, which may impact the company's stock.

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
• CYPRESS INVESTMENT 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 — me of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securiti
• $11.426 — ares of Common Stock, respectively, for $11.426 per share (the May 2024 Offering), purs

Filing Documents

• d812383dsc13da.htm (SC 13D/A) — 163KB
• 0001193125-24-153131.txt ( ) — 165KB

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 May 30, 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 30,531,795 shares, 10,125,546 shares and 965,651shares of Common Stock, respectively, for $11.426 per share (the May 2024 Offering), pursuant to that certain Underwriting Agreement by and among the Advent Funds, the Issuer and the underwriters (the May 2024 Underwriting Agreement). In connection with the May 2024 Offering, the Advent Funds entered into customary lock-up agreements with the underwriters, dated May 28, 2024 (the May 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, during the period commencing on May 28, 2024 and ending on June 27, 2024, without prior written consent from at least two of the four underwriters. The foregoing descriptions of the May 2024 Underwriting Agreement and the May 2024 Lock-up Agreements do not purport to be complete and are qualified in their entirety by reference to the full text of the May 2024 Underwriting Agreement, a copy of which is attached as Exhibit 99.1, and a form of the May 2024 Lock-up Agreement attached as Exhibit A to the May 2024 Underwriting Agreement, both of which are incorporated by reference herein. Item5. 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 May 30, 2024, the Reporting Persons beneficially owned in the aggregate 164,316,321 shares of Common Stock, which represents approximately 26.4% of the outstanding shares (based on 621,529,879 shares of Common Stock of the Issuer outstanding as of May 28, 2024, as reported in the Issuers prospectus supplement on Form 424(b)(3) filed with the Securities and Exchange Commission on May 29, 2024, the Outstanding Shares). (b) The Reporting Persons directly hold or are attributed beneficial ownership of the reported securities as follows: 120,531,292 shares are held directly by Cypress Investor; 3,812,112 shares are directly held by Advent International VIII-C; 39,972,917 shares are directly held 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 120,531,292 shares held directly by Cypress Investor; GPE VIII GP S.à.r.l (Advent GP Luxembourg), as general partner of Advent International VIII-C, may be deemed to beneficially own the 3,812,112 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 39,972,917 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 43,785,029 shares held directly by Advent International VIII-C and GPE VIII CCC Co-Investment; and Advent International GP, LLC

View Full Filing

View this SC 13D/A filing on SEC EDGAR