LAS VEGAS--(BUSINESS WIRE)--Apr. 12, 2018--
Cannae Holdings, Inc. (NYSE: CNNE) (“Cannae”) announced today that
Ceridian HCM Holding Inc. (“Ceridian”), a Cannae portfolio company, has
launched an initial public offering of 21,000,000 shares of its common
stock at a price to the public between $19.00 and $21.00 per share
pursuant to a registration statement on Form S-1 previously filed with
the United States Securities and Exchange Commission (the “SEC”).
Ceridian intends to grant the underwriters of the offering an option,
exercisable within 30 days from the date of the final prospectus
relating to the offering, to purchase up to an additional 3,150,000
shares of common stock. Ceridian has applied to list the shares of
common stock on the New York Stock Exchange and the Toronto Stock
Exchange under the ticker symbol “CDAY.”
Ceridian intends to use the net proceeds that it receives from this
offering and a concurrent $100.0 million private placement to redeem the
$475.0 million principal amount of its outstanding 11% Senior Notes due
2021 as well as to pay a portion of the interest on the Senior Notes
that will have accrued at the time of the redemption.
Goldman Sachs & Co. LLC, J.P. Morgan, Credit Suisse and Deutsche Bank
Securities are acting as joint lead book-running managers, and Goldman
Sachs & Co. LLC and J.P. Morgan are acting as representatives of the
underwriters for the offering. Barclays, Citigroup, Jefferies LLC, CIBC
Capital Markets and Wells Fargo Securities are also acting as
book-running managers for the offering. Baird, Canaccord Genuity, Piper
Jaffray, William Blair and MUFG are acting as co-managers for the
offering.
The offering is being made only by means of a prospectus. A copy of the
preliminary prospectus may be obtained from:
- Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West
Street, New York, New York 10282, via telephone: 1-866-471-2526, or
via email: prospectus-ny@ny.email.gs.com;
- J.P. Morgan Securities LLC, Attention: Prospectus Department, 1155
Long Island Avenue, Edgewood, NY 11717, or via telephone:
1-866-803-9204;
- Credit Suisse Securities (USA) LLC, Attention: Prospectus Department,
One Madison Avenue, New York, NY 10010, by telephone at (800)
221-1037, or by email at newyork.prospectus@credit-suisse.com;
or
- Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall
Street, New York, NY 10005, Telephone: 800-503-4611, or email: prospectus.CPDG@db.com.
A registration statement relating to these securities has been filed
with the SEC, but has not yet become effective. These securities may not
be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor
shall there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Cannae
Cannae holds majority and minority equity investment stakes in a number
of entities, including Ceridian, American Blue Ribbon Holdings, LLC and
T-System Holding LLC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180412005594/en/
Source: Cannae Holdings, Inc.
Solebury Trout
Jamie Lillis, 203-428-3223
jlillis@soleburytrout.com