Ceridian HCM Holding Inc. (CDAY) Announces Proposed 21M Share IPO Between $19-21/Sh

Cannae Holdings, Inc. (NYSE: CNNE) announced today that Ceridian HCM Holding Inc. (NYSE: CDAY) , a Cannae portfolio company, has launched an initial public offering of 21,000,000 shares of its common stock at a price to the public between $19.00 and $21.00 per share pursuant to a registration statement on Form S-1 previously filed with the United States Securities and Exchange Commission (the “SEC”). Ceridian intends to grant the underwriters of the offering an option, exercisable within 30 days from the date of the final prospectus relating to the offering, to purchase up to an additional 3,150,000 shares of common stock. Ceridian has applied to list the shares of common stock on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbol “CDAY.”

Ceridian intends to use the net proceeds that it receives from this offering and a concurrent $100.0 million private placement to redeem the $475.0 million principal amount of its outstanding 11% Senior Notes due 2021 as well as to pay a portion of the interest on the Senior Notes that will have accrued at the time of the redemption.

Goldman Sachs & Co. LLC, J.P. Morgan, Credit Suisse and Deutsche Bank Securities are acting as joint lead book-running managers, and Goldman Sachs & Co. LLC and J.P. Morgan are acting as representatives of the underwriters for the offering. Barclays, Citigroup, Jefferies LLC, CIBC Capital Markets and Wells Fargo Securities are also acting as book-running managers for the offering. Baird, Canaccord Genuity, Piper Jaffray, William Blair and MUFG are acting as co-managers for the offering.

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