CCC Intelligent Solutions Holdings Inc. Announces Completion of Redemption of Warrants
05 January 2022 - 12:30AM
Business Wire
CCC Intelligent Solutions Holdings Inc. (the “Company”) (NYSE:
CCCS) today announced that the Company completed the redemption of
all of its outstanding Public Warrants (other than Private
Placement Warrants held by the Sponsor or its Permitted Transferees
through and including the Redemption Date) (in each case, as
defined in the Warrant Agreement) (the “Public Warrants”) to
purchase shares of the Company’s common stock, par value $0.0001
per share (the “Common Stock”), that were issued under the Warrant
Agreement, dated as of August 13, 2020 by and between the Company
(f/k/a Dragoneer Growth Opportunities Corp.) and Continental Stock
Transfer & Trust Company, for a redemption price of $0.10 per
Warrant (the “Redemption Price”), that remained outstanding at 5:00
p.m. New York City time on December 29, 2021 (the “Redemption
Date”).
On November 29, 2021, the Company issued a press release stating
that, pursuant to the terms of the Warrant Agreement, on the
Redemption Date, it would redeem all of the outstanding Public
Warrants at the Redemption Price. Of the 17,299,983 Public Warrants
that were outstanding as of the closing of the Business
Combination, 10,638 Public Warrants were exercised for cash at an
exercise price of $11.50 per share of Common Stock and 15,876,341
Public Warrants were exercised on a cashless basis in exchange for
an aggregate of 4,836,977 shares of Common Stock, in each case in
accordance with the terms of the Warrant Agreement, representing
approximately 91.8% of the outstanding Public Warrants. Following
the Redemption Date, the Company had no Public Warrants
outstanding. The Company’s 17,800,000 Private Placement Warrants
and Working Capital Warrants held by the Sponsor or its Permitted
Transferees through and including the Redemption Date remain
outstanding and are not affected by the redemption of the Public
Warrants.
In connection with the redemption, the Public Warrants ceased
trading on the New York Stock Exchange and were delisted, with the
trading halt announced after close of market on December 28, 2021.
The Common Stock continues to trade on the New York Stock Exchange
under the symbol “CCCS.”
Evercore acted as financial advisor to the Company in connection
with the Warrant redemption.
Additional information can be found on the Company’s Investor
Relations website: https://ir.cccis.com/.
About CCC Intelligent Solutions
CCC Intelligent Solutions Inc. (CCC), a subsidiary of CCC
Intelligent Solutions Holdings Inc. (NYSE: CCCS), is a leading SaaS
platform for the multi-trillion-dollar P&C insurance economy
powering operations for insurers, repairers, automakers, part
suppliers, lenders, and more. CCC cloud technology connects more
than 30,000 businesses digitizing mission-critical workflows,
commerce, and customer experiences. A trusted leader in AI, IoT,
customer experience, network and workflow management, CCC delivers
innovations that keep people’s lives moving forward when it matters
most. Learn more about CCC at www.cccis.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220104005326/en/
Investor Contact: Brian Denyeau ICR, LLC 646-277-1251
IR@cccis.com Media Contact: Michelle Hellyar Director Public
Relations, CCC Intelligent Solutions Inc. mhellyar@cccis.com
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