Cannae Holdings Amends Paysafe Stake, Signals Ownership Update

TL;DR

**Cannae Holdings just updated its Paysafe stake, watch for potential shifts in investor sentiment.**

AI Summary

Cannae Holdings, Inc. filed an Amendment No. 4 to its Schedule 13D on January 17, 2024, regarding its ownership in Paysafe Ltd. This filing updates previous disclosures about Cannae's stake in Paysafe, indicating a change in their beneficial ownership or intent. This matters to investors because Cannae Holdings is a significant shareholder, and changes in their position or intentions can signal their confidence (or lack thereof) in Paysafe's future performance, potentially influencing other investors' decisions and the stock price.

Why It Matters

This filing indicates a change in Cannae Holdings' beneficial ownership or investment intent in Paysafe Ltd., which could impact investor sentiment and Paysafe's stock valuation.

Risk Assessment

Risk Level: medium — Changes in significant shareholder positions can introduce uncertainty regarding a company's future direction or valuation, posing a medium risk to current and prospective investors.

Analyst Insight

Investors should monitor subsequent filings from Cannae Holdings, Inc. and Paysafe Ltd. for more details on the nature of this ownership change, as it could signal a shift in a major investor's confidence or strategy.

Key Numbers

• $0.0001 — Par Value per Share (The stated par value of Paysafe Ltd.'s Common Shares, indicating the nominal value of each share.)

Key Players & Entities

• Cannae Holdings, Inc. (company) — the filing person and significant shareholder of Paysafe Ltd.
• Paysafe Ltd. (company) — the subject company whose securities are being reported
• Bryan D. Coy (person) — person authorized to receive notices for Cannae Holdings, Inc.
• $0.0001 (dollar_amount) — par value per share of Paysafe Ltd. Common Shares
• January 17, 2024 (date) — date of event requiring the filing of this statement

Forward-Looking Statements

• Cannae Holdings, Inc. may be adjusting its investment strategy regarding Paysafe Ltd. based on the nature of this amendment. (Cannae Holdings, Inc.) — medium confidence, target: Q1 2024

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
• $329,552.59 — mmon Share (1) 152024 Purchase 26,336 $329,552.59 $12.51 182024 Purchase 800 $10,121.99
• $12.51 — 1) 152024 Purchase 26,336 $329,552.59 $12.51 182024 Purchase 800 $10,121.99 $12.65
• $10,121.99 — $329,552.59 $12.51 182024 Purchase 800 $10,121.99 $12.65 1102024 Purchase 51,623 $664,43
• $12.65 — $12.51 182024 Purchase 800 $10,121.99 $12.65 1102024 Purchase 51,623 $664,434.26 $1
• $664,434.26 — ,121.99 $12.65 1102024 Purchase 51,623 $664,434.26 $12.87 1112024 Purchase 291,007 $3,889
• $12.87 — 65 1102024 Purchase 51,623 $664,434.26 $12.87 1112024 Purchase 291,007 $3,889,750.02
• $3,889,750.02 — 434.26 $12.87 1112024 Purchase 291,007 $3,889,750.02 $13.37 1122024 Purchase 25,955 $350,76
• $13.37 — 1112024 Purchase 291,007 $3,889,750.02 $13.37 1122024 Purchase 25,955 $350,763.42 $1
• $350,763.42 — ,750.02 $13.37 1122024 Purchase 25,955 $350,763.42 $13.51 1162024 Purchase 204,279 $2,735
• $13.51 — 37 1122024 Purchase 25,955 $350,763.42 $13.51 1162024 Purchase 204,279 $2,735,566.32
• $2,735,566.32 — 763.42 $13.51 1162024 Purchase 204,279 $2,735,566.32 $13.39 1172024 Purchase 90,369 $1,262,
• $13.39 — 1162024 Purchase 204,279 $2,735,566.32 $13.39 1172024 Purchase 90,369 $1,262,098.40
• $1,262,098.40 — ,566.32 $13.39 1172024 Purchase 90,369 $1,262,098.40 $13.97 1182024 Purchase 27,711 $388,75

Filing Documents

• cnne-psfeschedule13dajan20.htm (SC 13D/A) — 109KB
• 0001704720-24-000003.txt ( ) — 111KB

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 5, 2024 through January 19, 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) 152024 Purchase 26,336 $329,552.59 $12.51 182024 Purchase 800 $10,121.99 $12.65 1102024 Purchase 51,623 $664,434.26 $12.87 1112024 Purchase 291,007 $3,889,750.02 $13.37 1122024 Purchase 25,955 $350,763.42 $13.51 1162024 Purchase 204,279 $2,735,566.32 $13.39 1172024 Purchase 90,369 $1,262,098.40 $13.97 1182024 Purchase 27,711 $388,757.03 $14.03 1192024 Purchase 5,941 $83,346.49 $14.03 (1) Total Cost and Price per Common Share include fees and commissions to broker. Information as of the date of this Amendment No. 4 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. 4 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 2,475,725 Common Shares, which represents approximately 4.0% of the outstanding Common Shares. 4 As of the date of this Amendment No. 4, 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, 28,028,142 Common Shares representing 45.5% 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. 4 does not reflect any

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