Cannae Holdings, Inc. Announces Sale of Shares of Ceridian Common Stock

Rhea-AI Summary

Cannae Holdings, Inc. (NYSE:CNNE) announced the sale of 2,000,000 shares of common stock of Ceridian HCM Holding Inc. at a price of $87.50 per share, generating gross proceeds of $175,000,000. This sale was conducted under Rule 144 of the Securities Act of 1933. Cannae, led by William P. Foley, II, manages and operates a diverse portfolio of companies and investments, including significant stakes in Dun & Bradstreet and Paysafe.

Positive

• Sale of 2,000,000 shares of Ceridian at $87.50 generates $175 million in gross proceeds.

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• None.

Cannae Holdings, Inc. (NYSE:CNNE) (“Cannae” or the “Company”) today announced the sale of 2,000,000 shares of common stock of Ceridian HCM Holding Inc. (“Ceridian”), a Cannae portfolio company, at a price of $87.50 per share, pursuant to Rule 144 of the Securities Act of 1933, as amended. Cannae anticipates that the gross proceeds from the sale will be $175,000,000.

About Cannae Holdings, Inc.

Cannae Holdings, Inc. (NYSE: CNNE) is engaged in actively managing and operating a group of companies and investments, as well as making additional majority and minority equity portfolio investments in businesses, in order to achieve superior financial performance and maximize the value of these assets. Cannae was founded and is led by investor William P. Foley, II. Foley is responsible for the creation and growth of over $140 Billion in publicly traded companies including Fidelity National Information Services (NYSE: FIS), Fidelity National Financial (NYSE: FNF), and Black Knight, Inc. (NYSE: BKI). Cannae’s current principal holdings include Dun & Bradstreet Holdings, Inc. (NYSE: DNB), which recently completed a successful business transformation and IPO. Cannae holds approximately 76 Million shares of Dun & Bradstreet or an ~17.7% interest. Cannae’s second principal holding is Ceridian (NYSE: CDAY), which Foley transformed from a legacy payroll bureau into a leading cloud-based provider of human capital management software. Cannae owns 12 Million shares of Ceridian representing an approximately 8.0% interest. Cannae also holds approximately 54 Million shares, or approximately 7.5% of Paysafe (NYSE: PSFE), as well as 8.1 Million Paysafe warrants.

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FAQ

What was the gross proceeds from Cannae's sale of Ceridian shares?

Cannae's sale of 2,000,000 shares of Ceridian generated gross proceeds of $175,000,000.

How many shares did Cannae sell of Ceridian HCM?

Cannae sold 2,000,000 shares of Ceridian HCM Holding Inc.

What was the sale price for the Ceridian shares sold by Cannae?

The sale price for the Ceridian shares was $87.50 per share.

Under what rule did Cannae sell the Ceridian shares?

Cannae sold the Ceridian shares under Rule 144 of the Securities Act of 1933.

Who is the leader of Cannae Holdings?

William P. Foley, II is the leader of Cannae Holdings.