Paysafe Ltd. reports institutional ownership changes in its common stock. This Schedule 13G/A shows that several insurance subsidiaries and affiliates of Fidelity National Financial, Inc. (FNF) collectively report beneficial ownership of less than 5% of Paysafe’s outstanding common shares.
FNF reports shared voting and dispositive power over 2,250,000 Paysafe common shares, representing 3.9% of the class. Its subsidiaries hold smaller stakes, including 651,725 shares (1.1%) at Chicago Title Insurance Company, 831,608 shares (1.4%) at Fidelity National Title Insurance Company, 350,000 shares (0.6%) at Commonwealth Land Title Insurance Company, and 416,667 shares (0.7%) at Fidelity & Guaranty Life Insurance Company. The filers certify that the shares are not held to change or influence control of Paysafe.
Paysafe Limited entered into privately negotiated agreements to repurchase approximately 4 million of its common shares at a price of $6.7062 per share from wholly owned subsidiaries of Cannae Holdings and Fidelity National Financial.
The transaction was approved by the Audit Committee and executed under Paysafe’s previously announced share repurchase program. After closing, about $67 million remains available under the program, Cannae no longer beneficially owns Paysafe common shares, and Fidelity National Financial’s beneficial ownership falls below 5%.