Cannae Holdings, Inc. Announces $50 Million New Investment in QOMPLX, Inc. and Tailwind Acquisition Corp. Merger

LAS VEGAS--(BUSINESS WIRE)--Cannae Holdings, Inc. (NYSE:CNNE) (“Cannae” or the “Company”) today announced that the Company, in conjunction with the announced QOMPLX and Tailwind Acquisition Corp. (NYSE: TWND) merger, intends to invest $50 million in the newly combined entity, including $37.5 million as part of a private investment in public equity (“PIPE”) for 3,750,000 shares of TWND in addition to 835,539 founder shares, and $12.5 million into a convertible promissory note (the “Note”). The Note has a one-year term and carries a 7.5% annual interest rate, and is expected to convert into 1,250,000 shares of TWND at the closing of the transaction. This investment will be in addition to Cannae’s initial investment in QOMPLX of $30 million in the fourth quarter of 2019, for which Cannae would receive approximately 17,830,727 shares of TWND. For Cannae’s total investment of $80 million, the Company would receive approximately 23,666,266 shares of TWND. The additional PIPE investment and conversion of the outstanding principal amount and interest under the Note into shares of TWND would occur concurrently with the closing of the QOMPLX and Tailwind Acquisition Corp. combination.