LAS VEGAS--(BUSINESS WIRE)--Apr. 30, 2018--
Cannae Holdings, Inc. (NYSE: CNNE) (“Cannae”) announced today that
Ceridian HCM Holding Inc. (“Ceridian”), a global human capital
management software company, closed its initial public offering of
24,150,000 shares of common stock, which includes 3,150,000 shares of
common stock issued pursuant to the exercise by the underwriters of
their over-allotment option. The offering was priced at $22.00 per
share, resulting in gross proceeds of $631,300,000 when combined with
the concurrent $100.0 million private placement and before deducting
underwriting discounts and commissions and other offering expenses
payable by Ceridian.
Ceridian’s shares of common stock began trading on the New York Stock
Exchange and the Toronto Stock Exchange under the ticker symbol “CDAY”
on April 26, 2018.
Ceridian intends to use the net proceeds that it receives from this
offering and the 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. Concurrently with
the closing of the offering, Ceridian redeemed the Senior Notes and
refinanced its remaining indebtedness with new senior credit facilities
consisting of a $680.0 million term loan debt facility and a $300.0
million revolving credit facility.
Goldman Sachs & Co. LLC, J.P. Morgan, Credit Suisse and Deutsche Bank
Securities acted as joint lead book-running managers, and Goldman Sachs
& Co. LLC and J.P. Morgan acted as representatives of the underwriters
for the offering. Barclays, Citigroup, Jefferies LLC, CIBC Capital
Markets and Wells Fargo Securities also acted as book-running managers
for the offering. Baird, Canaccord Genuity, Piper Jaffray, William Blair
and MUFG acted as co-managers for the offering. The offering of these
securities was made only by means of a prospectus, copies of which may
be obtained by contacting:
- 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;
- Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall
Street, New York, NY 10005, Telephone: 800-503-4611, or email: prospectus.CPDG@db.com;
or
- CIBC World Markets Inc., Attention: Lovena Doodahnand, 161 Bay Street,
Toronto, ON M5R 1C5, by telephone at (416) 594-7270, or by email at lovena.doodahnand@CIBC.ca.
A registration statement relating to these securities has been declared
effective by the Securities and Exchange Commission on April 25, 2018.
Ceridian has obtained a receipt for a final base PREP prospectus filed
with the securities commissions or similar securities regulatory
authorities in each of the provinces and territories of Canada (except
Quebec) on April 25, 2018 and filed a supplemented PREP prospectus
containing pricing information and other important information relating
to the common stock with such securities commissions or regulatory
authorities on April 26, 2018. A copy of the supplemented PREP
prospectus may be obtained from the underwriters at the addresses set
out above and is available on the SEDAR website at www.sedar.com
under Ceridian’s profile.
No securities regulatory authority has either approved or disapproved
the contents of this press release. 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 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/20180430006422/en/
Source: Cannae Holdings, Inc.
Solebury Trout
Jamie Lillis, 203-428-3223
jlillis@soleburytrout.com
