Cannae Holdings Sells 2M Ceridian HCM Holding Shares To Raise $175M

Cannae Holdings Inc (NYSE: CNNE) has sold 2 million shares of portfolio company Ceridian HCM Holding Inc (NYSE: CDAY) at $87.50 per share to raise $175 million.
The sale price signifies a 1.8% discount to Ceridian’s Thursday closing price of $89.14.
Cannae held $439.7 million in cash and equivalents as of March 31, 2021, and generated $6 million in operating cash flow.
Price action: CNNE shares are higher by 0.57% at $37.12, while CDAY shares are down by 1.51% at $87.79 on the last check Friday.