SCOTTSDALE, Ariz., Feb. 22, 2021 /PRNewswire/ -- GoDaddy Inc. (NYSE:
GDDY) ("GoDaddy") today announced the pricing of an offering of
$800 million aggregate principal
amount of 3.500% senior notes due 2029 (the "Notes") issued by its
subsidiaries, Go Daddy Operating Company LLC and GD Finance Co,
Inc. (the "Issuers"). The Notes are being offered to persons
reasonably believed to be qualified institutional buyers pursuant
to Rule 144A under the Securities Act of 1933, as amended (the
"Securities Act"), and outside the United
States to non-U.S. persons pursuant to Regulation S under
the Securities Act. The sale of the Notes is expected to close on
February 25, 2021, subject to the
satisfaction of customary closing conditions. Interest on the Notes
will be payable in cash semi-annually in arrears, beginning on
September 1, 2021.
The Notes will mature on March 1,
2029, unless earlier repurchased or redeemed. The Notes will
be guaranteed by the same entities that guarantee obligations under
the Issuers' existing credit facility, including Desert Newco, LLC
and certain subsidiaries of the Issuers. Holders may require the
Issuers to repurchase their Notes upon the occurrence of certain
change of control events at a purchase price equal to 101% of the
principal amount thereof plus accrued and unpaid interest, if
any.
Prior to March 1, 2024, the
Issuers may redeem the Notes, in whole or in part, at a price equal
to 100% of the principal amount thereof plus a "make-whole" premium
and accrued and unpaid interest, if any. On or after March 1, 2024, the Issuers may redeem the Notes,
in whole or in part, at specified prices that decline over time,
plus accrued and unpaid interest, if any. In addition, the Issuers
may use the net cash proceeds of one or more equity offerings to
redeem up to 40% of the aggregate principal amount of Notes prior
to March 1, 2024 at a price equal to
103.500% of the principal amount thereof plus accrued and unpaid
interest, if any.
GoDaddy intends to use the net proceeds from this offering for
general corporate purposes, which may include working capital,
capital expenditures and potential acquisitions and strategic
transactions.
This announcement does not constitute an offer to sell or a
solicitation of an offer to buy the Notes, nor shall there be any
offer, solicitation or sale in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful. The Notes
have not been registered under the Securities Act or any state
securities laws and may not be offered or sold in the United States absent registration or an
applicable exemption from such registration requirements.
Forward-Looking Statements
Certain statements in this announcement, including statements
regarding the closing of the offering of Notes and GoDaddy's
intended use for the proceeds of the offering, are "forward-looking
statements" within the meaning of Section 27A of the Securities Act
and Section 21E of the Securities Exchange Act of 1934, as amended,
that are subject to risks and uncertainties. These forward-looking
statements are based on management's current expectations, and as a
result of certain risks and uncertainties, actual events or results
may differ materially from those contained in the forward-looking
statements, including those factors set forth in GoDaddy's Annual
Report on Form 10-K and other filings with the Securities and
Exchange Commission. These documents contain and identify important
factors that could cause the actual results to differ materially
from those contained in GoDaddy's forward-looking statements. This
list of factors is not intended to be exhaustive. Such
forward-looking statements only speak as of the date of this
announcement, and GoDaddy disclaims any obligation to update
information contained in these forward-looking statements.
Source: GoDaddy Inc.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/godaddy-prices-800-million-offering-of-senior-notes-301232900.html
SOURCE GoDaddy Inc.