{"schema_version":"secwatch.filing_event.v1","accession":"0001704720-22-000003","form_type":"8-K","ticker":"CNNE","cik":"0001704720","company_name":"Cannae Holdings, Inc.","filed_at":"2022-01-27T23:59:59+00:00","discovered_at":"2026-05-14T18:04:07.876208+00:00","generated_at":"2026-06-27T15:01:04.766228+00:00","sec_items":["2.01","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Cannae completes $248M backstop investment in System1/Trebia merger; holds ~26% of SST","bullets":["Cannae invested $248.3M via backstop facility; received 28.2M SST shares and 1.24M warrants post-close.","System1 (Trebia) business combination closed Jan 27, 2022; SST begins trading on NYSE Jan 28 under ticker SST.","Cannae now holds ~26% of SST; management retains ~68% and is not selling shares.","William P. Foley II and Frank Martire Jr. join System1 Board; CEO Michael Blend continues leading combined company.","Backstop agreement originally disclosed June 2021; Cannae committed up to $250M to fund redemptions."],"urls":{"canonical":"https://secwatch.observer/filing/0001704720-22-000003","json":"https://secwatch.observer/filing/0001704720-22-000003.json","markdown":"https://secwatch.observer/filing/0001704720-22-000003.md","text":"https://secwatch.observer/filing/0001704720-22-000003.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1704720/000170472022000003/0001704720-22-000003-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1704720/000170472022000003/cnne-20220127.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-27T15:01:04.766228+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}