Cannae Holdings Amends System1 Stake Filing

TL;DR

Cannae Holdings updated its System1 filing, watch for changes in ownership.

AI Summary

Cannae Holdings, Inc. filed an amendment (Amendment No. 6) to its Schedule 13D on March 21, 2024, regarding its beneficial ownership of System1, Inc. The filing indicates a change in the reporting person's holdings, though specific new percentages or dollar amounts are not detailed in this excerpt. Cannae Holdings, Inc. was formerly known as Trebia Acquisition Corp. prior to a name change on March 6, 2020.

Why It Matters

This filing updates the market on Cannae Holdings' significant stake in System1, Inc., which could influence investor perception and trading activity for System1.

Risk Assessment

Risk Level: medium — Schedule 13D filings often signal significant changes in beneficial ownership, which can impact stock price and indicate potential strategic shifts.

Key Players & Entities

• Cannae Holdings, Inc. (company) — Reporting Person
• System1, Inc. (company) — Issuer
• Trebia Acquisition Corp. (company) — Former name of Cannae Holdings, Inc.
• Bryan D. Coy (person) — Contact Person for Cannae Holdings

FAQ

Key Financial Figures

• $0.0001 — ssuer) Class A common stock, par value $0.0001 per share (Title of Class of Securitie

Filing Documents

• cnne-sstschedule13damar2024.htm (SC 13D/A) — 93KB
• 0001704720-24-000037.txt ( ) — 95KB

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 March 21, 2024 with respect to the Schedule A Persons is set forth on Schedule A hereto and is incorporated herein by reference. The responses of the Reporting Persons to rows (7) through (13) of the cover pages of this Amendment No. 6, as of the date of this Amendment No. 6, are incorporated herein by reference. The calculation in this Amendment No. 6 of the percentage of Class A common stock outstanding beneficially owned by a Reporting Person or a Schedule A Person is based on 68,420,666 shares of Class A common stock outstanding as of March 8, 2024, as reported by the Issuer in its Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 15, 2024. (a)-(b) As of the date of this Amendment No. 6, the Reporting Persons beneficially owned an aggregate of 27,012,794 shares of Class A common stock directly held by CHL, which represents approximately 39.5% of the outstanding Class A common stock. None of the Reporting Persons beneficially own any of the 21,203,676 shares of Class C common stock, par value $0.0001 per share, of the Issuer (the " Class C common stock ") outstanding as of March 8, 2024 (such outstanding shares based on information reported by the Issuer in its Annual Report on Form 10-K). Holders of Class A common stock and Class C common stock are entitled to cast one vote per share of Class A common stock or Class C common stock on each matter submitted to the Issuer stockholders. Accordingly, the shares of Class A common stock beneficially owned by the Reporting Persons had a total voting power of 30.1%. By virtue of the Shareholders Agreement, CHL, BGPT, Michael Blend, Chuck Ursini, Nick Baker, and Just Develop It Limited, may constitute a group (the " Group ") within the meaning of Section 13(d) of the Exchange Act. The members of the Group are each filing separate Schedules 13Ds to report the shares of Class A common stock that they may b

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View this SC 13D/A filing on SEC EDGAR