Press release
Consensus Cloud Solutions, Inc. Announces Pricing of Secondary Offering of 2,000,000 Shares Held by Ziff Davis
LOS ANGELES--(BUSINESS WIRE)-- Consensus Cloud Solutions, Inc. (NASDAQ: CCSI) (the “Company” or “Consensus”) announced today the pricing of the previously
About this update from Consensus Cloud Solutions, Inc.
[{"type":"text","content":" LOS ANGELES--(BUSINESS WIRE)--\nConsensus Cloud Solutions, Inc. (NASDAQ: CCSI) (the “Company” or “Consensus”) announced today the pricing of the previously announced underwritten offering of 2,000,000 shares of its common stock currently owned by Ziff Davis, Inc. (“Ziff Davis”), Consensus’s former parent company at a price of $41.00 per share (before underwriting discounts and commissions). Consensus is not selling any shares and will not receive any proceeds from the sale of the shares in the offering and will not receive any proceeds from the debt-for-equity exchange (as described below).\n\nPrior to the closing of the offering, Ziff Davis intends to exchange 2,000,000 shares of Consensus common stock for indebtedness of Ziff Davis that will be owned by J.P. Morgan Securities LLC and Citicorp North America, Inc. J.P. Morgan Securities LLC and Citicorp North America, Inc., as the selling stockholders in the offering, intend to sell these shares of Consensus common stock to the underwriters in connection with the public offering. Ziff Davis will also offer to exchange with J.P. Morgan Securities LLC and Citicorp North America, Inc. up to an additional 300,000 shares of Consensus common stock for indebtedness of Ziff Davis that will be owned by J.P. Morgan Securities LLC and Citicorp North America, Inc., and the selling stockholders have granted the underwriters a 30-day option to purchase up to such additional 300,000 shares of common stock of Consensus at the public offering price. The offering is expected to close on June 14, 2022.\n\nJ.P. Morgan Securities LLC, Evercore Group L.L.C. and Citigroup Global Markets Inc. are acting as joint book-running managers and underwriters for the offering and LionTree Advisors LLC and MUFG Securities Americas Inc. are acting as co-managers and underwriters for the offering.\n\nThe Company has filed a shelf registration statement (including a prospectus) on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. The registration statement was declared effective on June 9, 2022. Before you invest, you should read the base prospectus in that registration statement, the accompanying prospectus supplement and other documents the Company has filed with the SEC for more complete information about the Company and this offering. Yo...