GoDaddy Inc. (NYSE:GDDY) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
Finance Co, Inc. (GD Finance and together with Go Daddy Operating
Company, LLC, the Credit Agreement Borrowers), entered into a
Technical Amendment (the Credit Agreement Technical Amendment) to
the Second Amended and Restated Credit Agreement dated as of
February 15, 2017 (the Credit Agreement) by and among the Credit
Agreement Borrowers, Desert Newco, LLC (Desert Newco), the
lenders or other financial institutions or entities from time to
time party thereto and Barclays Bank PLC (Barclays), as
Administrative Agent, Collateral Agent, Swingline Lender and
Letter of Credit Issuer (the Credit Agreement Agent). Also
effective May 24, 2017, Desert Newco and GD Finance (the Bridge
Borrowers) entered into a Technical Amendment (the Bridge
Technical Amendment, and together with the Credit Agreement
Technical Amendment, the Technical Amendments) to the Bridge
Credit Agreement dated as of April 3, 2017 (the Bridge Agreement)
by and among the Bridge Borrowers, the lending institutions from
time to time party thereto and Barclays, as Administrative Agent
and a Lender (the Bridge Agent and together with the Credit
Agreement Agent, the Agents).
Amendments to correct errors in the provisions in each of the
Credit Agreement and the Bridge Agreement relating to Restricted
Payments (as defined in each of the Credit Agreement and the
Bridge Agreement). The Technical Amendments modified Section
10.5(a)(iii)(A) of each of the Credit Agreement and the Bridge
Agreement to provide that the build up exception to the
Restricted Payments covenant shall include 50% (and not 50%) of
GoDaddy Inc.s (the Company) Consolidated EBITDA (as defined in
each of the Credit Agreement and the Bridge Agreement) for the
period from April 1, 2014 to the end of the Companys most
recently ended fiscal quarter for which financial statements are
available at the time of such Restricted Payment less the product
of 1.5 times the Companys Fixed Charges (as defined in each of
the Credit Agreement and the Bridge Agreement) for such period.
qualified in its entirety by reference to the full text of the
Technical Amendments, the Credit Agreement and the Bridge
Agreement, which are filed as Exhibits 10.1 and 10.2 to this
Current Report on Form 8-K and Exhibit 10.1 to the Companys
Current Report on Form 8-K filed on February 24, 2017 and April
4, 2017, respectively, and are incorporated herein by reference.
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Exhibit No.
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Description
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10.1
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Technical Amendment to the Second Amended and Restated
Credit Agreement by and among Desert Newco, LLC, Go Daddy Operating Company, LLC, GD Finance Co, Inc., the lending institutions from time to time party thereto, and Barclays Bank PLC, effective as of May 24, 2017. |
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10.2
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Technical Amendment to the Bridge Credit Agreement by
and among Desert Newco, LLC, GD Finance Co, Inc., the lending institutions from time to time party thereto, and Barclays Bank PLC, effective as of May 24, 2017. |
About GoDaddy Inc. (NYSE:GDDY)
GoDaddy Inc. is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. The Company operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence. It provides applications that enable connecting to customers and managing businesses. The Company provides search, discovery and recommendation tools, as well as a selection of domain name for ventures. It provides productivity tools, such as domain-specific e-mail, online storage, invoicing, bookkeeping and payment solutions to run ventures, as well as marketing products. Its hosting products are shared Website hosting, Website hosting on virtual dedicated servers and dedicated servers, managed hosting, security and cloud services and cloud applications. GoDaddy Inc. (NYSE:GDDY) Recent Trading Information
GoDaddy Inc. (NYSE:GDDY) closed its last trading session up +0.73 at 42.15 with 951,694 shares trading hands.
