Cannae Holdings, Inc. Announces Closing of Initial Public Offering of Foley Trasimene Acquisition Corp. II

Aug 22, 2020

Cannae Holdings, Inc. (NYSE: CNNE) (“Cannae” or the “Company”) previously announced that it has entered into a forward purchase agreement with Foley Trasimene Acquisition Corp. II (“FTAC II”) in which Cannae will purchase shares of FTAC II’s Class A common stock in an aggregate share amount equal to 15,000,000 shares of Class A common stock, plus an aggregate of 5,000,000 redeemable warrants to purchase one share of Class A common stock at $11.50 per share, for an aggregate purchase price of $150.0 million, or $10.00 for one share of Class A common stock and one-third of one redeemable warrant, in a private placement to occur concurrently with the closing of an initial business combination by FTAC II. FTAC II has completed its initial public offering of 130,000,000 units at a price of $10.00 per unit. The units are listed on the New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “BFT.U”. Each unit consists of one share of FTAC II’s Class A common stock and one-third of one warrant. Each whole warrant entitles the holder to one share of FTAC II’s Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on the NYSE under the symbols “BFT” and “BFT.WS,” respectively.

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