Item 1.02 Termination of a Material Definitive Agreement.
On November 11, 2021, Austerlitz Acquisition Corporation I ("AAC") and Wynn
Interactive Ltd ("WIL") entered into a mutual termination agreement (the "Mutual
Termination Agreement") to terminate their previously announced agreement and
plan of merger which contemplated the combination of AAC and WIL (the "Merger").
In contemplation of the Merger, Cannae Holdings, Inc. (the "Company" or
"Cannae") previously announced it entered into a certain Backstop Facility
Agreement (the "Backstop Agreement") whereby the Company agreed, subject to the
other terms and conditions included therein, at the BPS Closing (as defined in
the Backstop Agreement), to subscribe for AAC Class A Ordinary Shares in order
to fund redemptions by shareholders of AAC in connection with the Merger, in an
amount of up to $690,000,000 (the "Subscription"). Also in contemplation of the
Merger, AAC previously amended and restated (a) that certain letter agreement
(the "Sponsor Agreement"), dated March 2, 2021, between AAC and Austerlitz
Acquisition Sponsor, LP I (the "Sponsor") and (b) that certain letter agreement,
dated as of March 2, 2021, by and between AAC and the Sponsor and each of the
directors and officers of AAC (collectively, the "Insiders"), and entered into
that certain amended and restated sponsor agreement (the "Amended and Restated
Sponsor Agreement") with the Company, the Sponsor and the Insiders.
As a result of the Mutual Termination Agreement, the Backstop Agreement and the
Amended and Restated Sponsor Agreement were automatically terminated on November
11, 2021. Cannae no longer has an obligation to fund the Subscription.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Description
104 Cover Page Interactive Data File - the cover page XBRL tags are embedded
within the Inline XBRL document.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses