On Oct. 17, 2024, Spaceship Purchaser, through its subsidiary Spaceship Group MergerCo, secured $2.65 billion in financing to support its acquisition of Squarespace. The financing, arranged with Blue Owl Capital, consists of a $2.1 billion term loan, a $300 million delayed draw term loan, and a $250 million revolving loan facility. The financing is secured by substantially all assets of the borrower, Spaceship Purchaser, and its subsidiaries, including Squarespace.
This financing package was critical in finalizing the acquisition, enabling Spaceship Purchaser to successfully integrate Squarespace as a wholly owned subsidiary.
In connection with the merger, all outstanding indebtedness under Squarespace’s existing $1.784 billion amended and restated credit agreement, led by JPMorgan Chase, was repaid in full. The previous credit commitments were terminated, and outstanding letters of credit were cash collateralized, with guarantees and liens securing the prior debt fully discharged and released.
