other material
confidence high
sentiment neutral
materiality 0.70
Cannae Holdings closes $250M PIPE investment and acquires additional shares, holds 10.1% of Alight Class A stock
Cannae Holdings, Inc.
- Cannae purchased 25M shares of Alight Class A common stock at $10/share ($250M) in PIPE investment.
- Cannae also acquired 15M Forward Purchase Shares and 5M warrants for $150M, plus 5.2M shares for $52.4M.
- Upon closing, Cannae holds ~10.1% of Alight Class A common stock and ~8.6% of total voting power.
- Cannae received a 2% fee on the PIPE investment from Alight.