Cannae Holdings, Inc. Announces Dun & Bradstreet’s Closing of Initial Public Offering and Exercise in Full of Option to Purchase Additional Shares
Cannae Holdings, Inc. (NYSE:CNNE) (“Cannae”) today announced that Dun & Bradstreet Holdings, Inc. (“Dun & Bradstreet”), a Cannae portfolio company, closed the previously announced initial public offering of 90,047,612 shares of common stock, which includes 11,745,340 shares of common stock issued pursuant to the exercise by the underwriters of their option to purchase additional shares in full. The offering was priced at $22.00 per share, resulting in gross proceeds of $2,381,047,464 when combined with the $400,000,000 aggregate proceeds from the concurrent private placement and before deducting underwriting discounts and commissions and other offering expenses payable by Dun & Bradstreet. Dun & Bradstreet’s shares of common stock began trading on the New York Stock Exchange under the ticker symbol “DNB” on July 1, 2020.
Following the closing of the offering and concurrent private placement, Dun & Bradstreet used a portion of the net proceeds therefrom to redeem all of its outstanding Series A Preferred Stock and repay a portion of its 10.250% Senior Unsecured Notes outstanding due 2027. Dun & Bradstreet intends to use the remaining net proceeds as set forth in the prospectus relating to the initial public offering.
Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan and Barclays acted as joint lead book running managers and representatives of the underwriters for the offering. Citigroup, Credit Suisse, HSBC, Jefferies, RBC Capital Markets, Wells Fargo Securities, Deutsche Bank Securities, BMO Capital Markets, SunTrust Robinson Humphrey and TD Securities also acted as book-running managers for the offering. William Blair, Raymond James, Stephens Inc., Academy Securities and Loop Capital Markets acted as co-managers for the offering.
A registration statement relating to the offering was declared effective by the Securities Exchange Commission on June 30, 2020. The offering was made only by means of a prospectus, copies of which 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: firstname.lastname@example.org;
- BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, attention: Prospectus Department, or via email: email@example.com;
- J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204, or by email at firstname.lastname@example.org; or
- Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (888) 603-5847, or by email at email@example.com.
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.