Business Context and Reporting Period
This Form 8-K Current Report was filed by GoDaddy Inc. on August 14, 2018. The filing discloses a proposed secondary offering of Class A common stock by the Company and certain selling stockholders pursuant to an automatically effective shelf registration statement on Form S-3.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, or cash flow data. The only specific financial metric disclosed is the expected net proceeds to the Company from the offering:
- Expected Net Proceeds to Company: $0.6 million
- Use of Proceeds: Payment of transaction expenses and general corporate purposes.
- Proceeds to Selling Stockholders: The Company will not receive proceeds from the sale of shares by selling stockholders.
Material Changes and Offering Details
The primary event reported is the proposed sale of shares. The offering structure is as follows:
- Shares Offered by Company: 8,000 shares of Class A common stock.
- Shares Offered by Selling Stockholders: 10,390,942 shares of Class A common stock.
- Outstanding Shares (as of June 30, 2018): 158,098,444 shares of Class A common stock (or 172,004,048 assuming exchange of all LLC Units).
Beneficial ownership changes for major selling stockholders post-offering include:
| Selling Stockholder | Ownership Prior to Offering | Ownership After Offering |
|---|---|---|
| Entities Affiliated with KKR | 4.0% (6,868,908 shares) | 2.0% (3,368,908 shares) |
| Entities Affiliated with Silver Lake | 7.8% (8,312,908 shares) | 3.1% (5,312,908 shares) |
| YAM Special Holdings, Inc. | 2.3% (3,890,942 shares) | 0% (0 shares) |
Guidance, Outlook, and Risks
The filing does not contain updated financial guidance, management commentary on operational outlook, or specific risk factors beyond the standard disclosure of the offering mechanics. The document notes that the press release regarding the offering is attached as Exhibit 99.1.
Key Facts for Investor Verification
- Verify the final closing price and total gross proceeds of the offering, as this filing only states the Company's expected net proceeds of $0.6 million.
- Confirm the final dilution impact on existing shareholders given the sale of over 10 million shares by selling stockholders.
- Review the attached press release (Exhibit 99.1) for specific details on the underwriters and the timeline of the offering.
- Note that the Company receives no proceeds from the sale of shares by KKR, Silver Lake, or YAM Special Holdings, Inc.