Dun & Bradstreet Holding has launched its initial public offering of 65.75 million shares of its common stock at an anticipated initial public offering price 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 (SEC), the company reported on Wednesday.
Dun & Bradstreet has projected to grant the underwriters a 30-day option to purchase up to an 9.86 additional shares of common stock. Dun & Bradstreet has applied to list the shares of common stock on the New York Stock Exchange under the ticker symbol, DNB.
A subsidiary of Cannae, a subsidiary of Black Knight, Inc. and a subsidiary of CC Capital Partners, LLC plan to invest $200 million, $100 million, and $100 million, respectively, in a concurrent private placement of Dun & Bradstreet's common stock. The investments will be contingent upon the consummation of the offering at a price per share equal to 98.5 percent of the initial public offering price.
Dun & Bradstreet has planned to use the proceeds from the offering and the concurrent private placement to redeem all of its outstanding Series A Preferred Stock, repay a portion of its 10.25 percent Senior Unsecured Notes outstanding due 2027 and for working capital and other general corporate purposes.
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