Cannae Holdings, Inc. Announces Investment in Austerlitz Acquisition Corporation I's Recently Priced $600 Million Initial Public Offering

Feb 26, 2021

Cannae Holdings, Inc. (NYSE:CNNE, Financial) (“Cannae” or the “Company”) today announced that it has entered into a forward purchase agreement with Austerlitz Acquisition Corporation I (“AUS”) in which Cannae intends to purchase AUS’s Class A ordinary shares in an aggregate share amount equal to 5,000,000 Class A ordinary shares, plus an aggregate of 1,250,000 redeemable warrants to purchase one Class A ordinary share at $11.50 per share, for an aggregate purchase price of $50.0 million, or $10.00 per Class A ordinary share, in a private placement to occur concurrently with the closing of an initial business combination by AUS. Additionally, Cannae will invest $1.4 million in AUS for 933,333 private placement warrants at the initial public offering. AUS recently priced its initial public offering of 60,000,000 units at a price of $10.00 per unit. AUS has granted the underwriters of the offering a 45-day option to purchase up to an additional 9,000,000 units at the public offering price. The units are listed on the New York Stock Exchange (the "NYSE") and trade under the ticker symbol “AUS.U”. Each unit consists of one of AUS’s Class A ordinary shares and one-fourth of one warrant. Each whole warrant entitles the holder to one of AUS’s Class A ordinary shares at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols “AUS” and “AUS WS,” respectively.

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