Alight Issues Statement in Conjunction with Cannae
Alight (NYSE: ALIT), a cloud-based human capital technology and services provider, has announced that Cannae and Board Chairman William P. Foley, II sold 12 million shares of Alight's common stock. The sale was conducted to address Cannae's liquidity requirements, as the company does not generate operating income. Foley stated that Cannae has no plans for additional Alight share sales in the near future and maintains strong confidence in Alight's long-term prospects and financial profile.
Alight (NYSE: ALIT), fornitore di tecnologia e servizi per il capitale umano basato sul cloud, ha annunciato che Cannae e il Presidente del Consiglio William P. Foley, II hanno venduto 12 milioni di azioni ordinarie di Alight. La vendita 猫 stata effettuata per soddisfare le esigenze di liquidit脿 di Cannae, poich茅 l'azienda non genera reddito operativo. Foley ha dichiarato che Cannae non ha piani per ulteriori vendite di azioni Alight nel prossimo futuro e mantiene una forte fiducia nelle prospettive a lungo termine e nel profilo finanziario di Alight.
Alight (NYSE: ALIT), un proveedor de tecnolog铆a y servicios de capital humano basado en la nube, ha anunciado que Cannae y el Presidente de la Junta William P. Foley, II vendieron 12 millones de acciones ordinarias de Alight. La venta se realiz贸 para atender las necesidades de liquidez de Cannae, ya que la empresa no genera ingresos operativos. Foley declar贸 que Cannae no tiene planes para vender m谩s acciones de Alight en el futuro cercano y mantiene una fuerte confianza en las perspectivas a largo plazo y en el perfil financiero de Alight.
Alight (NYSE: ALIT)電� 韥措澕鞖半摐 旮半皹鞚� 鞚胳爜 鞛愲掣 旮办垹 氚� 靹滊箘鞀� 鞝滉车鞐呾泊搿�, Cannae 氚� 鞚挫偓須� 鞚橃灔 William P. Foley, II臧� Alight鞚� 氤错喌欤� 1觳� 2氚彪 欤茧ゼ 毵り皝頄堧嫟瓿� 氚滍憸頄堨姷雼堧嫟. 鞚措矆 毵り皝鞚� Cannae鞚� 鞙犽彊靹� 鞖旉惮毳� 於╈”頃橁赴 鞙勴暣 鞚措（鞏挫鞙茧┌, 須岇偓電� 鞖挫榿 靾橃澋鞚� 彀届稖頃橃 鞎婌姷雼堧嫟. Foley電� Cannae臧� 臧�旯岇毚 氙鸽灅鞐� 於旉皜鞝侅澑 Alight 欤检嫕 毵り皝 瓿勴殟鞚� 鞐嗢溂氅� Alight鞚� 鞛リ赴 鞝勲瓿� 鞛 頂勲頃勳棎 雽�頃� 臧曧暅 鞁犽毳� 鞙犾頃橁碃 鞛堧嫟瓿� 氚濏様鞀惦媹雼�.
Alight (NYSE: ALIT), un fournisseur de technologie et de services en capital humain bas茅 sur le cloud, a annonc茅 que Cannae et le pr茅sident du conseil William P. Foley, II ont vendu 12 millions d'actions ordinaires d'Alight. La vente a 茅t茅 r茅alis茅e pour r茅pondre aux besoins de liquidit茅 de Cannae, car l'entreprise ne g茅n猫re pas de revenus d'exploitation. Foley a d茅clar茅 que Cannae n'avait pas de plans pour d'autres ventes d'actions Alight dans un avenir proche et maintient une forte confiance dans les perspectives 脿 long terme et le profil financier d'Alight.
Alight (NYSE: ALIT), ein Cloud-basierter Anbieter von Technologie und Dienstleistungen f眉r das Humankapital, hat angek眉ndigt, dass Cannae und der Vorsitzende des Vorstands William P. Foley, II 12 Millionen Aktien von Alights Stammaktien verkauft haben. Der Verkauf wurde durchgef眉hrt, um Cannaes Liquidit盲tsanforderungen zu erf眉llen, da das Unternehmen keinen operativen Gewinn erzielt. Foley erkl盲rte, dass Cannae in naher Zukunft keine Pl盲ne f眉r weitere Alight-Aktienverk盲ufe hat und gro脽es Vertrauen in Alights langfristige Perspektiven und finanzielles Profil hat.
- Chairman affirmed strong confidence in company's long-term prospects
- No additional share sales expected in foreseeable future
- Major shareholder Cannae sold 12 million shares
- Sale indicates Cannae's need for immediate liquidity
Insights
The sale of 12 million shares by major shareholder Cannae represents a significant secondary offering that could impact ALIT's stock price and market perception. While Cannae frames this as a liquidity-driven decision rather than a loss of confidence, such large insider sales typically create downward pressure on share prices. Based on ALIT's current stock price, this transaction amounts to approximately
Notably, Foley's statement aims to reassure investors by emphasizing this is not the beginning of a larger exit and reaffirming belief in ALIT's fundamentals. However, Cannae's need for liquidity and inability to generate operating income raises questions about their financial position as a major shareholder. The timing and size of this sale could signal broader market concerns about growth-oriented tech stocks in the current economic environment.
鈥淵esterday, Cannae sold 12 million shares of Alight鈥檚 common stock in support of Cannae鈥檚 own liquidity needs. Cannae does not generate operating income and will from time to time sell assets to generate cash for our strategic needs. This sale met that objective, and we do not have any expectations for additional sales of Alight shares for the foreseeable future. Our conviction in Alight鈥檚 attractive long-term thesis and financial profile is steadfast,鈥� commented Foley.
About Alight Solutions
Alight is a leading cloud-based human capital technology and services provider for many of the world鈥檚 largest organizations. Through the administration of employee benefits, Alight powers confident health, wealth, leaves and wellbeing decisions for 35 million people and dependents. Our Alight Worklife庐 platform empowers employers to gain a deeper understanding of their workforce and engage them throughout life鈥檚 most important moments with personalized benefits management and data-driven insights, leading to increased employee wellbeing, engagement and productivity. Learn how Alight unlocks growth for organizations of all sizes at .
Forward-looking statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, these forward-looking statements can be identified by the use of words such as 鈥渙utlook,鈥� 鈥渂elieves,鈥� 鈥渆xpects,鈥� 鈥減otential,鈥� 鈥渃ontinues,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渟hould,鈥� 鈥渃ould,鈥� 鈥渟eeks,鈥� 鈥減rojects,鈥� 鈥減redicts,鈥� 鈥渋ntends,鈥� 鈥減lans,鈥� 鈥渆stimates,鈥� 鈥渁nticipates鈥� or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties including, among others, risks described under the section entitled 鈥淩isk Factors鈥� of Alight鈥檚 Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the "SEC") on February 29, 2024, and in the Quarterly Report on Form 10-Q filed with the SEC on May 8, 2024 and on November 12, 2024, as such factors may be updated from time to time in Alight's filings with the SEC, which are, or will be, accessible on the SEC's website at . Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be considered along with other factors noted in this presentation and in Alight鈥檚 filings with the SEC. Alight undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
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Investors:
Jeremy Cohen
investor.relations@alight.com
Media:
Mariana Fischbach
mariana.fischbach@alight.com
Source: Alight Solutions
FAQ
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