Cannae Holdings, Inc. 8-K

What Happened

• Cannae Holdings’ indirect wholly owned subsidiary, Cannae Funding A, LLC, prepaid in full and terminated its Margin Loan Agreement with Bank of America, N.A. and the lenders on March 6, 2026.
• The facility (originally entered Nov. 30, 2020 and amended multiple times) provided up to $50.0 million of revolving borrowings, was secured by 40,477,062 shares of Alight, Inc. common stock, and had a scheduled maturity of Aug. 27, 2028.
• The company reported there were no outstanding principal or interest advances at payoff; the aggregate pay-off amount was $58,681, consisting solely of accrued and unpaid commitment fees. The parties executed a pay-off letter confirming termination and release of liens, with pledged shares to be returned/re-registered.

Key Details

• Date of prepayment/termination: March 6, 2026.
• Facility size (max): $50.0 million; collateral: 40,477,062 Alight, Inc. shares.
• Aggregate pay-off: $58,681 (accrued/unpaid commitment fees only).
• Company cited limited borrowing capacity due to current Alight trading levels and the desire to eliminate approximately $0.4 million of annual commitment fees.

Why It Matters

• This removes a committed-but-unused borrowing facility and eliminates roughly $0.4M in annual commitment fees, improving expense profile.
• There was no outstanding principal, so the termination does not materially affect the company’s reported liquidity.
• Investors should note Cannae now no longer has that specific secured borrowing capacity tied to Alight shares, which reduces optional leverage available against that collateral going forward.