C3.ai Announces Launch of Initial Public Offering
REDWOOD CITY, Calif., Nov. 30, 2020 — C3.ai, a leading enterprise AI software provider for accelerating digital transformation, today announced plans to commence the roadshow for its proposed initial public offering. C3.ai has filed a registration statement on Form S-1 with the Securities and Exchange Commission (“SEC”) to offer 15,500,000 shares of its Class A common stock to the public. C3.ai also intends to grant the underwriters a 30-day option to purchase up to an additional 2,325,000 shares of Class A common stock from C3.ai. The initial public offering price is expected to be between $31.00 and $34.00 per share. C3.ai’s Class A common stock has been approved for listing under the ticker symbol “AI” on the New York Stock Exchange.
Morgan Stanley, J.P. Morgan and BofA Securities are acting as lead book-running managers for the proposed offering. Deutsche Bank Securities is acting as a book-running manager for the proposed offering. Canaccord Genuity, JMP Securities, KeyBanc Capital Markets, Needham & Company, Piper Sandler and Wedbush Securities are acting as co-managers for the proposed offering.
A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective.
C3.ai is a leading enterprise AI software provider for accelerating digital transformation. C3.ai delivers the C3 AI Suite for developing, deploying, and operating large-scale AI, predictive analytics, and IoT applications in addition to an increasingly broad portfolio of turn-key AI applications. The core of the C3.ai offering is a proprietary, model-driven AI architecture that enhances data science and application development.