Cannae's share price of $22.58 as of 02/28/2023 is a 40% discount to the intrinsic value per share
Per share amounts based upon 76.3M Cannae shares outstanding at date of report
(2)
Ex cluding Ceridian, "Fees" represents carried interest (CI) on hy pothetical disposition at FV. Upon achiev ing an 8% IRR hurdle, the CI is 15% on the portion that
is 1.0x - 2.0x MOIC and 20% on the portion ex ceeding 2.0x MOIC. CDAY ISIP fees are 10% of gain abov e $29.58 per share
Tax rate of 21%
Cost of DNB inv estment includes $459.7M cash inv estment and $403.1M imputed v alue of shares receiv ed on 2/15/22 from the Optimal Blue transaction
DNB, CDAY, PSFE, ALIT, SST: public company filings and market data as of date noted abov e; all others estimated at recent marks or at cost
Net of estimated carried interest and tax ex pense of a hy pothetical disposition at FV. May result in a tax benefit in the ev ent an inv estment's cost ex ceeds FV
Primarily Restaurant Group, Computer Serv ices, Black Knight Football & Entertainment, and QOMPLX
(8) Includes holding company cash, net of outstanding debt
CANNAE HOLDINGS FEBRUARY 2023 |
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Cannae Holdings Inc. published this content on 28 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2023 00:21:07 UTC.
Cannae Holdings, Inc. is a diversified holding company, which is engaged in acquiring interests in operating companies and are actively engaged in managing and operating a core group of those companies. The Company operates through its wholly owned subsidiary, Cannae Holdings, LLC (Cannae LLC). Its segments include Restaurant Group, Dun & Bradstreet (D&B), Black Knight Football and Entertainment (BKFE), Alight, and Corporate and Other. Its Dun & Bradstreet segment offers business decisioning data and analytics and support its clientâs mission critical business operations by providing proprietary and curated data. Alight segment provides cloud-based integrated digital human capital and business solutions. BKFE is focused on building a global network of world-class football clubs, players, and real estate assets that will produce operational synergies, accelerate player development. Restaurant Group segment consists of its operations of O'Charley's and 99 Restaurants.
CANNAE HOLDINGS, INC. 
