March 29, 2024

Cocoabar21 Clinton

Truly Business

Cannae Holdings, Inc. Announces Completion of $500 million expenditure in Paysafe Company Mix with Foley Trasimene Acquisition Corp. II

4 min read

LAS VEGAS–(Organization WIRE)–Cannae Holdings, Inc. (NYSE: CNNE) (“Cannae”) today declared the completion of Cannae’s $500 million expense, in conjunction with the closing of the company combination (the “Business Combination”) concerning Paysafe Team Holdings Confined, a main specialized payments system, and Foley Trasimene Acquisition Corp. II (NYSE: BFT, BFT WS) (“Foley Trasimene”), a distinctive intent acquisition company. The blended company now operates as Paysafe Minimal (“Paysafe”) and Paysafe’s widespread shares and warrants will start out trading on the New York Stock Trade (NYSE) less than the ticker symbols “PSFE” and “PSFE.WS” respectively, starting off tomorrow, March 31, 2021.

Cannae invested $350 million as element of a non-public placement in addition to a forward purchase arrangement of $150 million. For Cannae’s overall expense of close to $500 million in the Enterprise Mix, Cannae acquired 54,294,395 frequent shares and 8,134,067 warrants of Paysafe. Excluding any benefit from the warrants, Cannae’s implied value for every share is $9.11.

William P. Foley, II, Chairman of Cannae and Foley Trasimene will serve as Chairman of Paysafe’s newly shaped Board of Directors. Paysafe’s administration group headed up by Philip McHugh, CEO, will continue to direct the merged company.

William P. Foley, II, Chairman of Cannae and Foley Trasimene, commented, “We are thrilled to finish this enterprise mixture with Paysafe and I am personally enthusiastic to continue to do the job with Philip, Blackstone, CVC and the complete board as we continue on to execute versus our approach for accelerated and worthwhile progress. Paysafe has the proper property, workforce and tactic in location to capitalize on a huge chance for extended-expression worth creation in the payments sector, in particular in iGaming which is seriously commencing to open up up across the United States.”

About Cannae Holdings, Inc.

Cannae Holdings, Inc. (NYSE: CNNE) is engaged in actively taking care of and operating a team of businesses and investments, as properly as producing extra the vast majority and minority fairness portfolio investments in enterprises, in purchase to accomplish top-quality financial overall performance and increase the worth of these property. Cannae was established and is led by investor William P. Foley, II. Foley is dependable for the creation and advancement of in excess of $140 Billion in publicly traded corporations which include Fidelity National Info Expert services (“FIS”), Fidelity Countrywide Monetary (“FNF”), and Black Knight, Inc. (“BKI”). Cannae’s present principal holdings involve Dun & Bradstreet Holdings, Inc. (“DNB”), which a short while ago done a successful organization transformation and IPO. Cannae retains an close to 18% desire in Dun & Bradstreet or ~76 Million shares. Cannae’s next principal holding is Ceridian (“CDAY”), which Foley reworked from a legacy payroll bureau into a primary cloud-primarily based service provider of human money management program. Cannae owns 9.5% of Ceridian representing roughly 14 Million shares.

About Paysafe

Paysafe is a top specialized payments system. Its core intent is to allow companies and buyers to link and transact seamlessly as a result of market-leading capabilities in payment processing, digital wallet, and on the internet funds alternatives. With in excess of 20 several years of on the net payment working experience, an annualized transactional quantity of US $92 billion in 2020, and somewhere around 3,400 personnel positioned in 12+ worldwide places, Paysafe connects firms and consumers across 70 payment styles in in excess of 40 currencies about the entire world. Sent through an built-in system, Paysafe methods are geared towards cellular-initiated transactions, real-time analytics and the convergence amongst brick-and-mortar and on-line payments. Further facts is available at www.paysafe.com.

About Foley Trasimene Acquisition Corp. II

Foley Trasimene Acquisition Corp. II is a blank check out corporation whose enterprise purpose is to effect a merger, funds stock trade, asset acquisition, stock purchase, reorganization, or equivalent company combination with a person or extra firms or entities. For a lot more information and facts, be sure to take a look at www.foleytrasimene2.com.

Forward-Wanting Statements

This press release consists of forward-on the lookout statements that entail a variety of threats and uncertainties. Statements that are not historical info, like statements about our anticipations, hopes, intentions or methods about the upcoming are ahead-on the lookout statements. Ahead-hunting statements are based mostly on management’s beliefs, as well as assumptions created by, and information and facts at this time out there to, management. Since these kinds of statements are centered on anticipations as to future economic and operating results and are not statements of simple fact, precise results may perhaps differ materially from these projected. We undertake no obligation to update any forward-hunting statements, no matter whether as a end result of new details, upcoming situations or in any other case. The hazards and uncertainties which forward-seeking statements are subject matter to incorporate, but are not limited to: improvements in general economic, enterprise and political ailments, including adjustments in the economic marketplaces our likely inability to locate suited acquisition candidates, acquisitions in lines of company that will not always be restricted to our regular parts of target, or problems in integrating acquisitions sizeable competitors that our operating subsidiaries confront compliance with in depth govt regulation of our running subsidiaries pitfalls connected with our break up-off from FNF, including limits on our strategic and operating versatility similar to the tax-absolutely free mother nature of the break up-off and the Financial investment Firm Act of 1940 and Financial commitment Advisers Act, as properly as the threat and uncertainties relevant to the accomplishment of our externalization.

This push release should be go through in conjunction with the pitfalls in depth in the “Statement Pertaining to Forward-Searching Data,” “Risk Factors” and other sections of our Quarterly Stories on Kind 10-Q, Annual Report on Sort 10-K and other filings with the Securities and Trade Fee.

cocoabar21clinton.com | Newsphere by AF themes.