secwatch.observer — SEC 8-K summary
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Issuer:     Cannae Holdings, Inc. (CNNE)
CIK:        0001704720
Form:       8-K
Filed at:   2023-02-22T23:59:59+00:00
Accession:  0001704720-23-000018
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cannae repurchased 10.8M shares ($225M) in 2022; sold AmeriLife at 2.7x; invested in AFC Bournemouth
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- Repurchased 10.8M shares ($225M) in 2022, representing 12% of shares outstanding; since May 2021, returned ~$400M via buybacks.
- Sold remaining 29% of AmeriLife for $95M; total cash proceeds $243M for 75% of initial investment, a 2.7x return; retains 5% stake valued at $89M.
- Sold 1M Ceridian shares in Feb 2023 for $78M (13x return); now holds 5M shares (3% of CDAY).
- Invested $86M in Computer Services (CSI) for ~9% interest; committed ~$133M for 50.1% of Black Knight Football (AFC Bournemouth).
- Liquidity: $274M corporate cash; $85M drawn on FNF credit facility; $250M margin loan fully utilized.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1704720/000170472023000018/0001704720-23-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1704720/000170472023000018/cnne-20230222.htm
  HTML page:      https://secwatch.observer/filing/0001704720-23-000018

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