Internet/Online Services
GoDaddy's stock falls after public offering of 10.4 million shares
Published: Aug. 15, 2018 at 7:22 a.m. ET
GDDY
Shares of GoDaddy Inc. GDDY, -1.11% fell 1.1% in premarket trade Wednesday, after the domain names management company said it priced a public offering of 10.4 million shares at $75.75 a share, or 0.15% below Tuesday's closing price of $75.86. Of the total shares offered, 10,390,942 shares are being sold by selling stockholders, consisting of entities affiliated with Kohlberg Kravis Roberts & Co. LP, Silver Lake Partners and YAM Special Holdings Inc., which is an entity owned by GoDaddy founder Bob Parsons. The company will not receive any proceeds from the sale of those shares. GoDaddy is selling 8,000 shares in the offering, and plans to use the proceeds to pay transaction expenses. The total offering represents about 6.6% of the shares outstanding. The stock has soared 51% year to date through Tuesday, while the S&P 500 SPX, -0.72% has gained 6.2%.
Greene, a Georgia Republican and a supporter of the QAnon conspiracy theory, has repeatedly posted incendiary comments and false claims about fraud in the presidential election.