Cannae Holdings, Inc. Announces Ceridian’s Launch of Secondary Public Offering

LAS VEGAS–(BUSINESS WIRE)–Cannae Holdings, Inc. (NYSE:CNNE) (“Cannae” or the “Company”) today
announced that Ceridian HCM Holding Inc. (“Ceridian”), a Cannae
portfolio company, announced that certain stockholders of Ceridian (the
“Selling Stockholders”) intend to offer 11,000,000 shares of Ceridian’s
common stock, par value $0.01 per share (the “Common Stock”), in an
underwritten public offering. As part of the offering, Cannae intends to
sell approximately 3,800,000 shares. In addition, the Selling
Stockholders intend 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 1,650,000
shares of Common Stock, of which Cannae’s portion is approximately
600,000 shares, at the public offering price, less underwriting
discounts and commissions. The offering consists entirely of secondary
shares to be sold by the Selling Stockholders. The Selling Stockholders
will receive all of the proceeds from the offering.

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, Piper
Jaffray and Wells Fargo Securities are also acting as book-running
managers for the proposed offering. Baird, CIBC Capital Markets, William
Blair, Canaccord Genuity, Needham & Company and MUFG are acting as
co-managers for the proposed offering.

The offering will be made only by means of a prospectus. A copy of the
preliminary prospectus relating to this offering, when available, may be
obtained from:

  • Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West
    Street, New York, New York 10282, or via telephone: 1-866-471-2526, or
    via email:;
  • J.P. Morgan Securities LLC, Attention: Prospectus Department, 1155
    Long Island Avenue, Edgewood, NY 11717, or via telephone:
  • Credit Suisse Securities (USA) LLC, Attention: Prospectus Department,
    One Madison Avenue, New York, NY 10010, via telephone at (800)
    221-1037, or via email at;
  • Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall
    Street, New York, NY 10005, via telephone: 800-503-4611, or via email:

A registration statement relating to these securities has been filed
with the U.S. Securities and Exchange Commission (the “SEC”), but has
not yet become effective. These securities may not be sold nor may
offers to buy these securities be accepted prior to the time the
registration statement becomes effective. Copies of the registration
statement can be accessed through the SEC’s website at
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

About Cannae Holdings, Inc.

Cannae holds majority and minority equity investment stakes in a number
of entities, including Ceridian HCM Holding Inc., American Blue Ribbon
Holdings, LLC and T-System Holding LLC.

Forward-Looking Statements and Risk Factors

This press release contains forward-looking statements that involve a
number of risks and uncertainties. Statements that are not historical
facts, including statements regarding our expectations, hopes,
intentions or strategies regarding the future are forward-looking
statements. Forward-looking statements are based on management’s
beliefs, as well as assumptions made by, and information currently
available to, management. Because such statements are based on
expectations as to future financial and operating results and are not
statements of fact, actual results may differ materially from those
projected. We undertake no obligation to update any forward-looking
statements, whether as a result of new information, future events or
otherwise. The risks and uncertainties which forward-looking statements
are subject to include, but are not limited to: changes in general
economic, business and political conditions, including changes in the
financial markets; our potential inability to find suitable acquisition
candidates, acquisitions in lines of business that will not necessarily
be limited to our traditional areas of focus, or difficulties in
integrating acquisitions; significant competition that our operating
subsidiaries face; compliance with extensive government regulation of
our operating subsidiaries; risks associated with our split-off from
Fidelity National Financial, Inc., including limitations on our
strategic and operating flexibility related to the tax-free nature of
the split-off and the Investment Company Act of 1940; our ability,
together with the investment consortium, to close the acquisition of Dun
& Bradstreet, including our ability to fund and/or sell down our equity
commitment pursuant to the definitive agreements entered into in
connection therewith.

This press release should be read in conjunction with the risks detailed
in the “Statement Regarding Forward-Looking Information,” “Risk Factors”
and other sections of the Company’s Form 10-Q,10-K and other filings
with the Securities and Exchange Commission.


Solebury Trout
Jamie Lillis, 203-428-3223
Managing Director

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