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Multiply Group To Invest $75 Million In Additional Pipe Investment In Connection With Getty Images' Business Combination With Cc Neuberger Principal Holdings Ii

Dec 28, 2021•over 3 years ago

Amount Raised

$75 Million

Description

Tech-focused holding company Multiply Group ("Multiply") and CC Neuberger Principal Holdings II (NYSE: PRPB) ("CC Neuberger"), a special-purpose acquisition company sponsored by CC Capital and Neuberger Berman, today announced the signing of a binding commitment for Multiply to make an additional $75 million PIPE investment, on the same terms as the existing PIPE investors, in CC Neuberger's business combination (the "Business Combination") with Getty Images (or the "Company"), a preeminent global visual content creator and marketplace.

Company Information

Company

Cc Neuberger Principal Holdings Ii

About

CC Neuberger Principal Holdings II is a special purpose acquisition company that completed its initial public offering in July 2020, raising $828 million in proceeds. Formed and led by Chinh E. Chu, Douglas Newton, Jason K. Giordano, Matthew Skurbe, Charles Kantor and other senior professionals of CC Capital and Neuberger Berman, CC Neuberger Principal Holdings II is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech