GoDaddy Inc., the company that empowers everyday entrepreneurs, today announced it has entered into an accelerated share repurchase agreement (ASR) with Goldman Sachs & Co. LLC to repurchase $250 million of GoDaddy’s common stock. The ASR was entered into pursuant to GoDaddy’s share repurchase program, under which approximately $750 million share repurchase authorization will remain available upon completion of the ASR.
“The accelerated repurchase reinforces our confidence in the long-term opportunity for GoDaddy and our commitment to creating shareholder value,” said GoDaddy CFO Mark McCaffrey.
Following completion of the program, GoDaddy will have repurchased a total of approximately 6.9 million shares year-to-date, representing 4% of total shares outstanding. Since January 2020, GoDaddy will have repurchased approximately 16.9 million shares, representing more than 9% of total shares outstanding. The final settlement of the ASR is expected to be completed in Q3 of 2021.