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C3.ai Announces Launch of Initial Public Offering

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.

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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.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained, when available, 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 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.

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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