The rest came from a concurrent sale via private placement of $100 million in shares purchased by Koch Industries and $50 million by Microsoft. C3.ai is headed by CEO and CRM veteran Tom Siebel. The company says it will receive a total of $844.4 million in underwriters exercise their option to purchase additional share. Intended proceeds were designed for a variety of typical uses: working capital, operating expenses and capital expenditures. However, no specific uses were mentioned and the company said while it will likely buy businesses or products, there are no current agreements for acquisitions. C3.ai’s products utilize Microsoft Dynamics 365, the Adobe Experience Cloud  and C3.ai’s data and AI models.