GoDaddy Seeks To Raise $800M Via Debt

GoDaddy Inc. (NYSE: GDDY) plans to raise $800 million in a senior note offering via subsidiaries Go Daddy Operating Company and GD Finance Co.
The offering proceeds will be utilized for general corporate purposes, including working capital, capital expenditures, and potential acquisitions. The interest rate, redemption provisions, and maturity date are yet to be determined.
The company recently completed its acquisition of Poynt to expand its commerce services.
Cash and equivalents stood at $765.2 million, while total debt stood at $3.1 billion.
Price action: GDDY shares are down 2.61% at $82.4 in the pre-market session on the last check Monday.