Cannae Holdings, Inc. Announces Investment in Austerlitz Acquisition Corporation I’s Recently Priced $600 Million Initial Public Offering
Summary
Additionally, Cannae will invest $1.4 million in AUS for 933,333 private placement warrants at the initial public offering. William P. Foley, II, commented, “Cannae looks forward to working with AUS and intends to initially focus our search on identifying a prospective target business in financial technology or information and business services, which acts as an essential utility to industries that are core to the economy. Cannae Holdings, Inc. (NYSE: CNNE) is engaged in actively managing and operating a group of companies and investments, as well as making additional majority and minority equity portfolio investments in businesses, in order to achieve superior financial performance and maximize the value of these assets. Cannae’s second principal holding is Ceridian (“CDAY”), which Foley transformed from a legacy payroll bureau into a leading cloud-based provider of human capital management software. 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 and Investment Advisers Act, as well as the risk and uncertainties related to the success of our externalization.