Squarespace, Inc.: debt financing — Squarespace to acquire Google Domains assets for $180M; adds ~10M domain customers

Squarespace, Inc.

Purchase price $180M for assets of Google Domains, including ~10M customer domains.
Squarespace will honor existing renewal prices for at least 12 months post-close.
Squarespace becomes exclusive domain provider for Google Workspace customers purchasing domains from Google for min 3 years.
Transaction expected to close in Q3 2023, subject to regulatory approvals.
Company entered $100M term loan amendment to fund acquisition.

item 1.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Squarespace, Inc. amended term loan of $100 million with JPMorgan Chase Bank, N.A., as Administrative Agent.

Instrument: term loan
Principal: $100 million
Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent
Event: amendment

Exact text from the filing

The amendment will, among other things, establish additional Term Loan Commitments (as defined therein) in an aggregate principal amount of $100 million.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

Squarespace, Inc. amended Amendment No. 1 to its Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as Administrative Agent valued at $100 million (effective 2023-06-15).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent
Value: $100 million
Effective: 2023-06-15

Exact text from the filing

On June 15, 2023, in connection with the asset purchase discussed further below (the “Acquisition”), Squarespace, Inc. (“Company”) entered into Amendment No. 1 to its Amended and Restated Credit Agreement (the “Amendment”), dated June 15, 2023 by and between the Company and other credit parties named therein, and the lender JPMorgan Chase Bank, N.A., as Administrative Agent. The amendment will, among other things, establish additional Term Loan Commitments (as defined therein) in an aggregate principal amount of $100 million.

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Source: SEC EDGAR

accession 0001496963-23-000042

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