GoDaddy files for initial public offering
Looks like Godaddy is getting rich, Go Daddy filed its initial public offering Friday with the Securities Exchange Commission, seeking as much as $200 million in Class A common stock.
The number of shares to be offered and the price range for the offering have not yet been determined, according to company officials. According to documents filed with the SEC, the company hired Lehman Brothers, Merrill Lynch & Co., UBS Investment Bank, Cowen and Co., Piper Jaffray and JMP Securities to underwrite the IPO.
The Scottsdale-based Internet domain registration company, now registered as The Go Daddy Group Inc., gained significant notoriety for its provocative and alluring TV ads. The company made national headlines the past two years for its Super Bowl commercials. The content of its 2005 ad caused the National Football League to pull the commercial after one showing. The resulting controversy was worth millions in free publicity to Go Daddy, according to published reports.
Go Daddy has applied to have its Class A common stock approved for quotation on the Nasdaq National Market under the symbol “DADY.”
The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share, while each share of Class B common stock is entitled to two votes per share and is convertible at any time at the option of the holder into one share of Class A common stock, according to documents filed today.
All Class B common stock currently is beneficially owned by Go Daddy Chairman and Chief Executive Bob Parsons.
[Via http://washington.bizjournals.com/phoenix/stories/2006/05/08/daily48.html]
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