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Cannae Holdings, Inc. Announces Upsizing and Pricing of Public Offering of Common Stock

Cannae Holdings, Inc. (NYSE: CNNE) ("Cannaea?? or the "Companya??) today announced the pricing of the previously announced underwritten public offering, pursuant to a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (the "SECa??). The offering of 6,500,000 shares of its common stock, par value $0.0001 per share (the "Common Stocka??), represents an increase of 500,000 shares of Common Stock offered by the Company from the amount of shares previously announced. The Company expects that up to 84,200 shares of its Common Stock will be purchased, at the public offering price, by certain of its directors and officers and certain other related parties. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 975,000 shares of the Common Stock, at the public offering price, less the underwriting discount. The offering is expected to close on December 6, 2019, subject to customary closing conditions.


Cannae anticipates that the gross proceeds from the offering will be $214,500,000, before deducting the underwriting discount and estimated offering expenses payable by Cannae. Cannae intends to use the net proceeds from the offering to fund future acquisitions and for working capital and general corporate purposes.


BofA Securities is acting as a lead book-running manager for the offering. Stephens Inc. is also acting as a bookrunner for the offering.


An automatic shelf registration statement (including a prospectus) relating to the offering of Common Stock was filed with the SEC on November 27, 2019 and became effective upon filing. Before you invest, you should read the prospectus in that registration statement and the documents incorporated by reference in that registration statement as well as the prospectus supplement related to this offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. When available, copies of the prospectus supplement and accompanying prospectus related to the offering may also be obtained from: BofA Securities, address: NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or by emailing dg.prospectus_requests@bofa.com.


The offering of these securities will be made only by means of a prospectus supplement and the accompanying prospectus. 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 other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Any offer to buy the securities may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to notice of its acceptance given after the effective date.
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