AppLovin Announces Pricing of Secondary Public Offering of Common Stock and Concurrent Share Repurchase
February 29 2024 - 7:47AM
Business Wire
AppLovin Corporation (NASDAQ: APP) (“AppLovin” or the
“Company”), a leading marketing platform, today announced the
pricing of an underwritten registered secondary offering of
19,866,397 shares of its Class A common stock by KKR Denali
Holdings L.P. (the “Selling Stockholder”). AppLovin will not
receive any proceeds from the sale of its Class A common stock by
the Selling Stockholder in the offering.
In addition, AppLovin intends to repurchase approximately $570.0
million of the shares of Class A common stock being offered in the
offering at the same per share price to be paid by the underwriters
to the Selling Stockholder in the offering, inclusive of
underwriting discounts and commissions (the “Concurrent Share
Repurchase”). The Concurrent Share Repurchase is conditioned upon
the completion of the offering and therefore there can be no
assurance that the Concurrent Share Repurchase will be completed.
The offering is not conditioned upon the completion of the
Concurrent Share Repurchase.
BofA Securities is acting as the lead book-running manager for
the offering. BTIG, Evercore ISI, Goldman Sachs & Co. LLC,
Morgan Stanley & Co. LLC, Citigroup, LionTree, Loop Capital
Markets, Moelis, Piper Sandler, and The Raine Group are acting as
book-running managers for the offering. American Veterans Group,
PBC, AmeriVet Securities, Bancroft Capital, Blaylock Van, LLC, C.L.
King & Associates, MFR Securities, Inc., Mischler Financial
Group, Inc. and Stern are acting as co-managers for the
offering.
The offering will be made only by means of an effective
registration statement, a prospectus supplement and an accompanying
prospectus. AppLovin has filed a registration statement (including
a base prospectus) on Form S-3 and a preliminary prospectus
supplement with the U.S. Securities and Exchange Commission (the
“SEC”), for the offering to which this communication relates. The
registration statement automatically became effective on June 1,
2023. Before you invest, you should read the prospectus in that
registration statement, the prospectus supplement and other
documents AppLovin has filed with the SEC for more complete
information about AppLovin and this offering. You may get these
documents for free by visiting EDGAR on the SEC website at
www.sec.gov. Alternatively, a copy of the prospectus supplement
relating to the offering may be obtained by contacting: BofA
Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC
28255-0001, Attention: Prospectus Department, or email
dg.prospectus_requests@bofa.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities law of any such state or
jurisdiction.
About AppLovin
AppLovin makes technologies that help businesses of every size
connect to their ideal customers. The company provides end-to-end
software and AI solutions for businesses to reach, monetize and
grow their global audiences.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act of 1934. Forward-looking statements in
this release include statements regarding the closing of the
repurchase transaction between the underwriters and the Company and
the filing of a prospectus supplement. These forward-looking
statements are subject to risks and uncertainties, including the
risks described in our Annual Report on Form 10-K for the fiscal
year ending December 31, 2023. The forward-looking statements in
this press release are based on information available to us as of
the date hereof, and we disclaim any obligation to update any
forward-looking statements, except as required by law.
Source: AppLovin Corp.
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version on businesswire.com: https://www.businesswire.com/news/home/20240229469098/en/
Investors David Hsiao ir@applovin.com
Press Kim Hughes press@applovin.com
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