Black Knight, Inc. Announces Shareholder Approval and Closing of Spin-Off Transaction
02 October 2017 - 11:00PM
Black Knight, Inc. (NYSE:BKI) announced the completion of the
transactions pursuant to the previously announced merger agreement
among Black Knight Financial Services, Inc. (“Black Knight”),
Fidelity National Financial, Inc., (“FNF”) Black Knight, Inc.
(formerly Black Knight Holdco Corp.) (“New Black Knight”), and
several subsidiaries of FNF (the “Transaction”). The merger
agreement was approved on September 27, 2017 at a special meeting
of shareholders of Black Knight.
As previously disclosed, the Transaction in
effect resulted in the indirect distribution of FNF’s equity
interests in Black Knight to the holders of FNF Group common
stock. Upon the closing of the Transaction, Black Knight,
Inc. became the new public parent of Black Knight Financial
Services, Inc. Starting today, New Black Knight’s shares will
be traded on the New York Stock Exchange (“NYSE”) under the trading
symbol “BKI”. New Black Knight shares have a new CUSIP number
of 09215C105. Under the organizational documents of New Black
Knight, the rights of the holders of New Black Knight common stock
are substantially the same rights as the former holders of Black
Knight Class A common stock.
“We believe Black Knight and FNF offer investors
unique value propositions, and this transaction will unlock
significant value for all shareholders," said Black Knight
Executive Chairman Bill Foley. “Both companies will benefit from a
less complex corporate structure, enhanced trading liquidity, and
eligibility for index inclusion. This transaction marks another
important milestone in Black Knight’s evolution to become the
premier provider of software and data and analytics solutions to
the mortgage and consumer loan, real estate and capital markets
verticals.”
About Black KnightBlack Knight
is a leading provider of integrated software, data and analytics
solutions that facilitate and automate many of the business
processes across the homeownership lifecycle.
Black Knight is committed to being a premier
business partner that clients rely on to achieve their
strategic goals, realize greater success and better serve their
customers by delivering best-in-class software, services and
insights with a relentless commitment to excellence, innovation,
integrity and leadership. For more information on Black Knight,
please visit www.blackknightinc.com.
Forward-Looking StatementsThis press release
contains forward-looking statements that involve a number of risks
and uncertainties. Statements that are not historical facts,
including statements regarding expectations, hopes, intentions or
strategies regarding the future are forward-looking statements.
Forward-looking statements are based on Black Knight management’s
beliefs, as well as assumptions made by, and information currently
available to, them. Because such statements are based on
expectations as to future financial and operating results and are
not statements of fact, actual results may differ materially from
those projected. Black Knight undertakes no obligation to update
any forward-looking statements, whether as a result of new
information, future events or otherwise. The risks and
uncertainties that forward-looking statements are subject to
include, but are not limited to: security breaches against
our information systems; our ability to maintain and grow our
relationships with our customers; changes to the laws, rules and
regulations that affect our and our customers’ businesses; our
ability to adapt our services to changes in technology or the
marketplace; the effect of any potential defects, development
delays, installation difficulties or system failures on our
business and reputation; changes in general economic, business,
regulatory and political conditions, particularly as they affect
the mortgage industry; risks associated with the availability of
data; the effects of our substantial leverage on our ability to
make acquisitions and invest in our business; our ability to
successfully integrate strategic acquisitions; and other risks and
uncertainties detailed in the “Statement Regarding Forward-Looking
Information,” “Risk Factors” and other sections of our Annual
Report on Form 10-K and other filings with the Securities and
Exchange Commission (the “SEC”).
Information for Investors:
Kirk LarsenBlack Knight904.527.4470kirk.larsen@bkfs.com
Information for Media:
Michelle KerschBlack
Knight904.854.5043michelle.kersch@bkfs.com
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