C3.ai (AI) Prices 15.5M Class A Share IPO at $42/Sh

C3.ai (NYSE: AI), a leading enterprise AI software provider for accelerating digital transformation, announced today the pricing of its initial public offering of 15,500,000 shares of its Class A common stock at a price of $42.00 per share. C3.ai has granted the underwriters a 30-day option to purchase up to an additional 2,325,000 shares of Class A common stock at the initial public offering price less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by C3.ai, are expected to be $651 million, excluding any exercise of the underwriters’ option to purchase additional shares.

The shares are expected to begin trading on the New York Stock Exchange on December 9, 2020, under the ticker symbol “AI” and the offering is expected to close on December 11, 2020, subject to customary closing conditions.

Morgan Stanley, J.P. Morgan and BofA Securities are acting as lead book-running managers for the offering. Deutsche Bank Securities is acting as a book-running manager for the offering. Canaccord Genuity, JMP Securities, KeyBanc Capital Markets, Needham & Company, Piper Sandler and Wedbush Securities are acting as co-managers for the offering.

This offering will be made only by means of a prospectus.

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