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2 months ago
Transaction includes $150 million of fully committed common stock PIPE with participation by Fidelity Investments, funds and accounts advised by T. Rowe Price Associates, Inc. and other investors, in addition to $175 million forward purchase agreement from Dragoneer funds and Michael Bloomberg’s family office, Willett Advisors
$968 million of expected net proceeds from transaction will be used to invest in CCC’s growth initiatives and for general corporate purposes
Advent International will remain the majority shareholder and be closely aligned with Dragoneer and public shareholders at transaction close
Company expected to be listed on the NYSE upon completion of the combination in the second quarter of 2021