initial public offerings (IPOs) trading on American exchanges

Wednesday, June 24, 2020

Dun & Bradstreet (DNB) announces launch of 65.75 mln share IPO

Expected to price between $19-$21

  • The lead underwriters on the IPO are Goldman Sachs, BofA Securities, J.P. Morgan, and Barclays.
  • DNB has applied to list shares on the NYSE.
  • A subsidiary of Cannae (CNNE), a subsidiary of Black Knight (BKI), and a subsidiary of CC Capital Partners plan to invest $200.0 mln, $100.0 mln, and $100.0 mln, respectively, in a concurrent private placement of DNB's common stock that is contingent upon the consummation of the offering at a price per share equal to 98.5% of the initial public offering price.
  • DNB intends to use the proceeds that it receives from the offering and the concurrent private placement to redeem all of its outstanding Series A Preferred Stock, repay a portion of its 10.250% Senior Unsecured Notes outstanding due 2027 and for working capital and other general corporate purposes.

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