Cannae Holdings Stock Price, News & Analysis

Cannae Holdings (NYSE:CNNE) has announced a $32 million investment in Sightline Payments as part of a $100 million funding round. This investment reflects growing consumer interest in online gaming, with the combined sports betting and online casino market projected to rise from $3 billion in 2020 to $22 billion by 2026. Sightline’s Play+ solution is gaining traction, boasting over 1.5 million enrolled accounts, and is positioned to meet the demand for cashless payment options in a $90 billion revenue market.

Cannae Holdings, Inc. (NYSE: CNNE) has completed a $500 million investment linked to the business combination between Paysafe Group and Foley Trasimene Acquisition Corp. II. Cannae's contribution includes a $350 million private placement and a $150 million forward purchase agreement, acquiring 54,294,395 shares at an implied cost of $9.11 each. The newly formed entity, Paysafe Limited, will trade under the ticker symbols 'PSFE' and 'PSFE.WS'. Cannae's Chairman, William P. Foley, II, will lead Paysafe's Board of Directors, aiming for accelerated growth in the payments industry.

Cannae Holdings (NYSE: CNNE) announced that stockholders of Foley Trasimene Acquisition Corp. II (NYSE: BFT) approved a business combination with Paysafe Group. The transaction is set to close on March 30, 2021, pending customary conditions. Post-combination, the new entity will operate as Paysafe and trade under the ticker 'PSFE' starting March 31. Cannae, founded by William P. Foley, II, manages equity investments, with significant stakes in Dun & Bradstreet and Ceridian.

Cannae Holdings, Inc. (NYSE:CNNE) has announced a forward purchase agreement with Austerlitz Acquisition Corporation II (ASZ), planning to acquire 12,500,000 Class A ordinary shares and 3,125,000 redeemable warrants for a total of $125 million. This investment aligns with ASZ's upcoming business combination. Additionally, Cannae invested $29.6 million in ASZ for warrants during its IPO. ASZ completed its IPO, raising $1.38 billion, with shares listed under the ticker ASZ.U. Cannae owns about 20% of ASZ's sponsor and holds around 3% of outstanding shares post-offering.

Cannae Holdings (NYSE: CNNE) has announced a forward purchase agreement with Austerlitz Acquisition Corporation I (AUS) to acquire 5,000,000 Class A ordinary shares and 1,250,000 warrants for a total of $50 million. The investment aims to enhance Cannae’s portfolio as AUS completes its IPO of 69,000,000 units, including over-allotment options. Cannae retains a 10% limited partnership interest in AUS's sponsor, with existing holdings in companies like Dun & Bradstreet and Ceridian. The transaction reflects Cannae's strategic approach to maximize value through equity investments.

Cannae Holdings (NYSE: CNNE) announced a $50 million investment in the merger of QOMPLX and Tailwind Acquisition Corp. (NYSE: TWND). This includes a $37.5 million PIPE investment for 3.75 million shares of TWND and a $12.5 million convertible promissory note expected to convert into 1.25 million shares. The combined entity values QOMPLX at $1.4 billion. Cannae's total investment in TWND will reach $80 million for approximately 23.67 million shares. The completion of the deal is anticipated in mid-2021, pending stockholder approvals.

Cannae Holdings (NYSE:CNNE) has initiated a three-year stock repurchase program, allowing for the buyback of up to 10 million shares by February 26, 2024. The program aims to increase shareholder value as the stock is currently undervalued and trading below book value. Chairman William P. Foley, II, noted that these repurchases can enhance the book value per share, indicating confidence in Cannae's financial strategy and market position.

Cannae Holdings, Inc. (NYSE: CNNE) has entered into a forward purchase agreement with Austerlitz Acquisition Corporation II (ASZ), agreeing to buy 12,500,000 Class A ordinary shares and 3,125,000 redeemable warrants for a total of $125 million. This acquisition aligns with Cannae's strategy to identify targets in financial technology and business services. Additionally, Cannae will invest $26 million in ASZ for private placement warrants. The offering follows ASZ's IPO of 120 million units priced at $10 each, with significant participation from Credit Suisse, J.P. Morgan, and BofA Securities.

Cannae Holdings, Inc. (NYSE:CNNE) announced a forward purchase agreement with Austerlitz Acquisition Corporation I to acquire 5 million Class A ordinary shares and 1.25 million redeemable warrants for $50 million. The investment coincides with AUS's initial public offering of 60 million units priced at $10 each. Cannae plans to focus its acquisition strategy primarily on financial technology businesses while maintaining the flexibility to explore other sectors. The transaction highlights Cannae’s strategic investment approach and its role as a significant stakeholder in AUS.