Black Knight Announces Pricing of Secondary Offering of Common Stock and Repurchase of Common Stock
November 21 2017 - 8:03AM
Black Knight, Inc. (NYSE:BKI) (the “Company” or “Black Knight”), a
leading provider of software, data and analytics solutions to the
mortgage and consumer loan, real estate and capital market
verticals, today announced the pricing of the previously announced
underwritten public offering by affiliates of Thomas H. Lee
Partners, L.P. (together, the “Selling Shareholder”) of 7,000,000
shares of the Company’s common stock at a public offering price of
$45.50 pursuant to a shelf registration statement filed with the
Securities and Exchange Commission (the "SEC"). The Company has
agreed to repurchase from the underwriter 2,000,000 shares of the
7,000,000 shares of common stock being sold by the Selling
Shareholder at a per-share purchase price equal to the price
payable by the underwriter to the Selling Shareholder. As such,
only 5,000,000 shares of the 7,000,000 shares of common stock being
sold by the Selling Shareholder will be sold to the public. The
Selling Shareholder will receive all of the net proceeds from this
offering. No shares are being sold by the Company. The offering is
expected to close on November 24, 2017, subject to customary
closing conditions.
Goldman Sachs & Co. LLC will act as the underwriter for this
offering.
An automatic shelf registration statement (including a
prospectus) relating to the offering of common stock was filed with
the SEC on November 20, 2017 and became effective upon filing.
Before you invest, you should read the prospectus in that
registration statement and the documents incorporated by reference
in that registration statement as well as the prospectus supplement
related to this offering. You may obtain these documents for free
by visiting EDGAR on the SEC website at www.sec.gov. When
available, copies of the prospectus supplement and accompanying
prospectus related to the offering may also be obtained from:
Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West
Street, New York, NY 10282, telephone: (212) 902-1171, facsimile:
212-902-9316, e-mail: prospectusgroup-ny@ny.email.gs.com.
The offering of these securities will be made only by means of a
prospectus supplement and the accompanying prospectus. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of these securities
in any state or other jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or other
jurisdiction. Any offer to buy the securities may be withdrawn or
revoked, without obligation or commitment of any kind, at any time
prior to notice of its acceptance given after the effective
date.
About Black Knight Black Knight (NYSE:BKI) 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.
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:
- The Selling Shareholder’s ability to consummate the offering,
including the repurchase of shares by the Company from the
underwriter, as described above;
- 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;
- risks associated with our spin-off from FNF, including
limitations on our strategic and operating flexibility as a result
of the tax-free nature of the spin-off; 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 for the year ended
December 31, 2016 and other filings with the SEC.
Information for Investors:
Bryan HipsherBlack Knight904.854.3219bryan.hipsher@bkfs.com
Information for Media:
Michelle KerschBlack
Knight904.854.5043michelle.kersch@bkfs.com
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