secwatch.observer — SEC 8-K summary
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Issuer:     Cannae Holdings, Inc. (CNNE)
CIK:        0001704720
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001704720-23-000047
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cannae reports Q1 portfolio gains: D&B rev. $540M, Alight rev. $831M; $259M cash
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- D&B Q1 revenue $540M, adj EBITDA $190M above consensus; Cannae holds 79M shares ($853M value).
- Alight Q1 rev. $831M (+15% YoY), adj EBITDA $154M (+8.5%); cumulative BPaaS bookings $1.5B milestone.
- Ceridian Q1 rev. $370.6M, adj EBITDA $105.4M (+84%); Cannae sold 1M shares for $78M (13x return).
- System1 delayed 2022 annual report; Cannae expects no material impact, holds 27.1M shares ($86M).
- Liquidity: $259M cash, $85M FNF borrowings, $250M margin loan full; funded $40M to BKFE.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1704720/000170472023000047/0001704720-23-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1704720/000170472023000047/cnne-20230509.htm
  HTML page:      https://secwatch.observer/filing/0001704720-23-000047

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer