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C3.ai Announces Pricing of Initial Public Offering

C3.ai, a leading enterprise AI software provider for accelerating digital transformation, announced 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.

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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.

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This offering will be made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained from:

  • Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attn: Prospectus Department;
  • J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-866-803-9204, or by email at prospectus-eq_fi@jpmorganchase.com; or
  • BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department or by email at dg.prospectus_requests@bofa.com.

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A registration statement relating to the sale of these securities was filed with, and declared effective by, the Securities and Exchange Commission. Copies of the registration statement can be accessed through the Securities and Exchange Commission’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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