Ceridian HCM Holding Inc. (CDAY) Prices 21M Share IPO at $22/Sh

Ceridian HCM Holding Inc. (NYSE: CDAY) announced today the pricing of its initial public offering of 21,000,000 shares of common stock at a price of $22.00 per share. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 3,150,000 shares at the initial public offering price, less underwriting discounts and commissions. The initial public offering is expected to close on April 30, 2018, subject to the satisfaction of customary closing conditions.

The New York Stock Exchange has approved the listing of the shares and the Toronto Stock Exchange (“TSX”) has conditionally approved the listing of the shares. Listing on the TSX is subject to Ceridian fulfilling all of the requirements of the TSX on or before July 12, 2018, including distribution of the shares to a minimum number of public shareholders. Ceridian’s shares are expected to begin trading on the New York Stock Exchange and on an “if, as and when issued” basis on the TSX on April 26, 2018 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. The offering of these securities is being made only by means of a prospectus.

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