Benzinga | Jan 4, 2022 02:47PM EST

Cannae Raises Stake In Paysafe By $22.2M Via OMO

* Specialized payments platform Paysafe (NYSE:PSFE) announced that Cannae Holdings, Inc (NYSE:CNNE), through its subsidiary, has purchased ~5.7 million shares of Paysafe worth $22.2 million.

* As of December 31, 2021, Cannae owned 59.8 million shares, representing ~8.26% of Paysafe's outstanding shares.

* William P. Foley, II, Chairman of Cannae, commented, "Based on our confidence in the path Paysafe is now on, Cannae has acquired an additional 5.7 million shares in open market transactions totaling $22.2 million."

* Paysafe leadership and independent directors purchased ~0.74 million shares of Paysafe worth $2.8 million via market transactions in November and December 2021.

* Price Action: PSFE shares traded lower by 1.83% at $3.98 on the last check Tuesday.