Purchase Agreement, dated as of February 15, 2022, by and among Black Knight, Optimal Blue I, Cannae, THL, Optimal Blue Holdco and Black Knight Technologies
Exhibit 2.1
Execution Version
PURCHASE AGREEMENT
This purchase Agreement (this “Agreement”) is entered into as of February 15, 2022 by and among
(i) Black Knight, Inc., a Delaware corporation (“Black Knight”);
(ii) Optimal Blue I, LLC, a Delaware limited liability company (“Buyer”);
(iii) the Blocker Owners, as set forth on Schedule I hereto (the “Blocker Owners”);
(iv) Cannae Holdings, LLC, a Delaware limited liability company (“Cannae” and, together with the Blocker Owners, the “Sellers” and each a “Seller”);
(v) solely for the purposes of Section 7, THL Optimal Blue Blocker Corp., a Delaware corporation (“Blocker” and, together with Cannae, the “Members”);
(vi) solely for the purposes of Section 7, Optimal Blue Holdco, LLC, a Delaware limited liability company (the “Company”); and
(vii) solely for the purposes of Section 7(c), Section 7(d), Section 7(e), Section 7(f), Section 7(h), Section 7(i), Section 7(j), Section 7(k), Section 7(l), Section 7(m), Section 7(n), Section 7(o) and Section 7(p), Black Knight Technologies, LLC, a Delaware limited liability company (“Black Knight Technologies”).
RECITALS
AGREEMENT
In consideration of the promises, agreements and mutual covenants set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and INTENDING TO BE LEGALLY BOUND HEREBY, the parties hereto agree as follows:
i. | “VWAP” means, for any security as of any date(s), the dollar volume-weighted average price for such security on the principal securities exchange or securities market on which such security is then traded during the period beginning at 9:30:01 a.m., New York time, and ending at 4:00:00 p.m., New York time, as reported by Bloomberg through its “HP” function (set to weighted average). |
ii. | “Trading Day” means any day on which publicly traded common equity securities of D&B are actually traded on the principal securities exchange or securities market on which publicly traded common equity securities of the D&B are then traded. |
2
i. | to Cannae, (i) the Cannae Cash Consideration by wire transfer of immediately available funds to such account(s) as specified by Cannae prior to the Closing Date and (ii) the Cannae Stock Consideration which will be represented by book-entry shares, and which shall bear legends as to the restrictions on transfer or stop transfer notations with respect thereto; and |
ii. | to the recipients set forth on Schedule I hereto, (i) the THL Cash Consideration, as allocated among such recipients as set forth on Schedule I hereto, by wire transfer of immediately available funds to such account(s) as specified by the Blocker Owners (or their applicable designees) prior to the date hereof and (ii) the THL Stock Consideration, as allocated among such recipients as set forth on Schedule I hereto, which will be represented by book-entry shares, and which shall bear legends as to the restrictions on transfer or stop transfer notations with respect thereto. |
i. | to Buyer, instruments of assignment, transfer or other instruments of conveyance of the Sold Securities, duly executed by each Seller for transfer to Buyer, in form and substance reasonably satisfactory to Buyer; and |
ii. | to Buyer, a duly completed and executed Internal Revenue Service Form W-9 (or, in the case of a Blocker Owner that is not a U.S. person, in the Blocker Sellers’ discretion, a certification from the Blocker complying with the provisions of Treasury Regulations Sections 1.897-2(h) and 1.1445-2(c)(3) with respect to the transfer of Blocker). |
Each party shall deliver such other documents as may be reasonably requested by another party for the purpose of facilitating the consummation of the transactions contemplated hereby.
3
4
5
6
7
8
9
10
11
i. | The parties hereto will cooperate fully as and to the extent reasonably requested by another party in connection with the filing of tax returns of Blocker. Such cooperation will include the retention and (upon request) provision of records and information reasonably relevant to such tax returns, including tax returns of Blocker for years prior to the date of this Agreement. |
[Signature Pages Follow.]
12
IN WITNESS WHEREOF, each of the parties hereby have caused this Agreement to be executed as of the date first set above.
| | BLACK KNIGHT: | ||
| | BLACK KNIGHT, INC. | ||
| | | | |
| | By: | /s/ Kirk T. Larsen | |
| | | Name: | Kirk T. Larsen |
| | | Title: | Executive Vice President and Chief Financial Officer |
| | BUYER: | ||
| | OPTIMAL BLUE I, LLC | ||
| | | | |
| | By: | /s/ Colleen E. Haley | |
| | | Name: | Colleen E. Haley |
| | | Title: | Senior Vice President and Corporate Secretary |
| | SELLERS: | ||
| | CANNAE HOLDINGS, LLC | ||
| | | | |
| | By: | /s/ Bryan D. Coy | |
| | | Name: | Bryan D. Coy |
| | | Title: | Managing Director and Chief Financial Officer |
| | |||
| | THOMAS H. LEE EQUITY FUND VIII, L.P. | ||
| | | | |
| | By: | THL Equity Advisors VIII, LLC, its general partner | |
| | By: | Thomas H. Lee Partners, L.P., its sole member | |
| | By: | Thomas H. Lee Advisors, LLC, its general partner | |
| | By: | THL Holdco, LLC, its managing member | |
| | | | |
| | By: | /s/ Michael McDonnell | |
| | | Name: | Michael McDonnell |
| | | Title: | Chief Financial Officer |
| | |||
| | THOMAS H. LEE PARALLEL FUND VIII, L.P. | ||
| | | | |
| | By: | THL Equity Advisors VIII, LLC, its general partner | |
| | By: | Thomas H. Lee Partners, L.P., its sole member | |
| | By: | Thomas H. Lee Advisors, LLC, its general partner | |
| | By: | THL Holdco, LLC, its managing member | |
| | | | |
| | By: | /s/ Michael McDonnell | |
| | | Name: | Michael McDonnell |
| | | Title: | Chief Financial Officer |
| | |||
| | THL EQUITY FUND VIII INVESTORS (OB), L.P. | ||
| | | | |
| | By: | THL Equity Advisors VIII, LLC, its general partner | |
| | By: | Thomas H. Lee Partners, L.P., its sole member | |
| | By: | Thomas H. Lee Advisors, LLC, its general partner | |
| | By: | THL Holdco, LLC, its managing member | |
| | | | |
| | By: | /s/ Michael McDonnell | |
| | | Name: | Michael McDonnell |
| | | Title: | Chief Financial Officer |
| | BLOCKER: | ||
| | Solely for purposes of Section 7, | ||
| | | | |
| | THL OPTIMAL BLUE BLOCKER CORP. | ||
| | | | |
| | By: | /s/ Ganesh Rao | |
| | | Name: | Ganesh Rao |
| | | Title: | President |
| | COMPANY: | ||
| | Solely for purposes of Section 7, | ||
| | | | |
| | OPTIMAL BLUE HOLDCO, LLC | ||
| | | | |
| | By: | /s/ Colleen E. Haley | |
| | | Name: | Colleen E. Haley |
| | | Title: | Senior Vice President and Corporate Secretary |
| | BLACK KNIGHT TECHNOLOGIES: | ||
| | Solely for purposes of Section 7(c), Section 7(d), Section 7(e), Section 7(f), Section 7(h), Section 7(i), Section 7(j), Section 7(k), Section 7(l), Section 7(m), Section 7(n), Section 7(o) and Section 7(p) | ||
| | | | |
| | BLACK KNIGHT TECHNOLOGIES, LLC | ||
| | | | |
| | By: | /s/ Colleen E. Haley | |
| | | Name: | Colleen E. Haley |
| | | Title: | Senior Vice President and Corporate Secretary |