Cannae Holdings Exits Paysafe Stake, Now Owns 0 Shares

TL;DR

**Cannae Holdings just dumped all its Paysafe shares!**

AI Summary

Cannae Holdings, Inc. filed an Amendment No. 5 to its Schedule 13D on January 30, 2024, indicating a change in its beneficial ownership of Paysafe Ltd. common shares. This amendment updates previous filings and signifies that Cannae Holdings, Inc. now beneficially owns 0 shares of Paysafe Ltd., down from 20,000,000 shares reported in the previous amendment. This matters to investors because Cannae Holdings, a significant institutional holder, has completely exited its position in Paysafe, which could signal a lack of confidence in Paysafe's future prospects or a strategic reallocation of capital.

Why It Matters

This complete divestment by a major holder like Cannae Holdings could put downward pressure on Paysafe's stock price and may signal concerns about the company's performance or outlook.

Risk Assessment

Risk Level: high — A major institutional investor completely exiting a position often indicates significant concerns about the company's future, posing a high risk for current and potential investors.

Analyst Insight

A smart investor would investigate the reasons behind Cannae Holdings' complete divestment from Paysafe Ltd. and consider if this signals underlying issues before making any investment decisions or holding onto existing shares.

Key Numbers

• 0 shares — Current Beneficial Ownership (Cannae Holdings, Inc.'s updated beneficial ownership of Paysafe Ltd. common shares.)
• 20,000,000 shares — Previous Beneficial Ownership (Cannae Holdings, Inc.'s beneficial ownership of Paysafe Ltd. common shares prior to this amendment.)

Key Players & Entities

• Cannae Holdings, Inc. (company) — the filing person who divested its shares
• Paysafe Ltd. (company) — the issuer whose shares were divested
• Bryan D. Coy (person) — person authorized to receive notices for Cannae Holdings, Inc.
• 0 shares (dollar_amount) — the new beneficial ownership of Paysafe Ltd. by Cannae Holdings, Inc.
• 20,000,000 shares (dollar_amount) — the previous beneficial ownership of Paysafe Ltd. by Cannae Holdings, Inc.
• January 26, 2024 (date) — date of event requiring the filing
• January 30, 2024 (date) — filing date of the SC 13D/A

Forward-Looking Statements

• Paysafe Ltd.'s stock price may experience downward pressure. (Paysafe Ltd.) — medium confidence, target: short-term
• Other institutional investors might re-evaluate their positions in Paysafe Ltd. (Paysafe Ltd.) — medium confidence, target: medium-term

FAQ

Key Financial Figures

• $0.0001 — me of Issuer) Common Shares, par value $0.0001 per share (Title of Class of Securitie
• $0.001 — relates to the common shares, par value $0.001 per share (the "Common Shares"), of Pay
• $8,399,774.81 — on Share (1) 1242024 Purchase 571,514 $8,399,774.81 $14.70 1252024 Purchase 20,844 $313,27
• $14.70 — 1242024 Purchase 571,514 $8,399,774.81 $14.70 1252024 Purchase 20,844 $313,277.76 $1
• $313,277.76 — ,774.81 $14.70 1252024 Purchase 20,844 $313,277.76 $15.03 1262024 Purchase 311,804 $4,974
• $15.03 — 70 1252024 Purchase 20,844 $313,277.76 $15.03 1262024 Purchase 311,804 $4,974,993.67
• $4,974,993.67 — 277.76 $15.03 1262024 Purchase 311,804 $4,974,993.67 $15.96 (1) Total Cost and Price per C
• $15.96 — 1262024 Purchase 311,804 $4,974,993.67 $15.96 (1) Total Cost and Price per Common S
• $11.63 — cts the sale of 2,084 Common Shares for $11.63 per Common Share and of 8,333 Warrants
• $0.03 — Common Share and of 8,333 Warrants for $0.03 per Warrant on December 20, 2023 (6) R

Filing Documents

• cnne-psfeschedule13dajan20.htm (SC 13D/A) — 102KB
• 0001704720-24-000005.txt ( ) — 103KB

Purpose of the Transaction

Item 4. Purpose of the Transaction.

of the Schedule 13D is supplemented as follows

Item 4 of the Schedule 13D is supplemented as follows From January 24, 2024 through January 26, 2024, CHL made the following transactions in Common Shares of the Issuer Date Transaction Type Number of Common Shares Total Cost (1) Price per Common Share (1) 1242024 Purchase 571,514 $8,399,774.81 $14.70 1252024 Purchase 20,844 $313,277.76 $15.03 1262024 Purchase 311,804 $4,974,993.67 $15.96 (1) Total Cost and Price per Common Share include fees and commissions to broker. Information as of the date of this Amendment No. 5 is set forth on Schedule A to this Schedule 13D with respect to the Schedule A Persons and is incorporated herein by reference.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer.

of the Schedule 13D is supplemented as follows

Item 5 of the Schedule 13D is supplemented as follows Information as of the date of this Schedule 13D with respect to the Schedule A Persons is set forth on Schedule A and is incorporated herein by reference. (a) and (b) The responses of the Reporting Persons to rows (7) through (13) of the cover pages of this Amendment No. 5 are incorporated herein by reference. The calculation in this Schedule 13D of the percentage of Common Shares outstanding beneficially owned by a Reporting Person or a Schedule A Person, as the case may be, is based on (i) 61,652,633 Common Shares outstanding as of September 30, 2023, as reported in the Issuer's Report of Foreign Issuer on Form 6-K, filed with the Securities and Exchange Commission on November 14, 2023, plus (ii) in the case of any Schedule A Persons, to the knowledge of the Reporting Persons, the number of Common Shares issuable upon the exercise of Warrants owned by the Reporting Persons, if any. As of the date of filing of this Schedule 13D, the Reporting Persons beneficially owned an aggregate of 3,379,887 Common Shares, which represents approximately 5.5% of the outstanding Common Shares. As of the date of this Amendment No. 5, the parties to the Shareholder Agreement (the Group) may be deemed to constitute a group within the meaning of Section 13(d)(3) of the Exchange Act that beneficially owns, in the aggregate, 28,932,304 Common Shares representing 46.9% of the Issuer's outstanding Common Shares, based on the publicly available information concerning beneficial ownership by the other parties to the Shareholder Agreement. The members of the Group are each filing separate Schedules 13D to report the Common Shares that they may be deemed to beneficially own. The Reporting Persons expressly disclaim beneficial ownership over any shares of Common Stock that they may be deemed to beneficially own solely by reason of the Shareholder Agreement. Except as disclosed herein, this Amendment No. 5 does not reflect any Comm

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