LAS VEGAS--(BUSINESS WIRE)--Apr. 26, 2018--
Cannae Holdings, Inc. (NYSE: CNNE) (“Cannae”) announced today that
Ceridian HCM Holding Inc. (“Ceridian”), a Cannae portfolio company, has
priced its initial public offering of 21,000,000 shares of common stock
at a price of $22.00 per share. In addition, the underwriters have been
granted a 30-day option to purchase up to an additional 3,150,000 shares
at the initial public offering price, less underwriting discounts and
commissions. The initial public offering is expected to close on April
30, 2018, subject to the satisfaction of customary closing conditions.
The New York Stock Exchange has approved the listing of the shares and
the Toronto Stock Exchange (“TSX”) has conditionally approved the
listing of the shares. Listing on the TSX is subject to Ceridian
fulfilling all of the requirements of the TSX on or before July 12,
2018, including distribution of the shares to a minimum number of public
shareholders. Ceridian’s shares are expected to begin trading on the New
York Stock Exchange and on an “if, as and when issued” basis on the TSX
on April 26, 2018 under the ticker symbol “CDAY.”
Ceridian intends to use the net proceeds that it receives from this
offering and a 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.
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 LLC, CIBC
Capital Markets and Wells Fargo Securities are also acting as
book-running managers for the offering. Baird, Canaccord Genuity, Piper
Jaffray, William Blair and MUFG are acting as co-managers for the
offering.
The offering of these securities is being made only by means of a
prospectus. When available, a copy of the prospectus related to the
offering 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 filed
with, and declared effective by, the Securities and Exchange Commission.
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 the date hereof. A copy of the supplemented PREP prospectus
containing pricing information and other important information relating
to the common stock may, when available, be obtained from the
underwriters at the addresses set out above and will be 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/20180426005725/en/
Source: Cannae Holdings, Inc.
Solebury Trout
Jamie Lillis, 203-428-3223
jlillis@soleburytrout.com
