AppLovin Announces Plan to Raise New $1.5 Billion Term Loan

Rhea-AI Summary

AppLovin Corporation (NASDAQ: APP) has announced plans to raise a new $1.5 billion term loan aimed at supporting general corporate purposes, including acquisitions. The transaction is subject to market conditions, and there is no guarantee that AppLovin will successfully complete it. JPMorgan Chase Bank and KKR Capital Markets are acting as joint lead arrangers for this loan.

The company emphasizes its marketing software solutions for app developers, but the ability to finalize this loan remains uncertain due to potential market fluctuations.

Positive

• Plans to raise $1.5 billion term loan for corporate purposes and acquisitions.

Negative

• Completion of the loan is uncertain due to market conditions.

PALO ALTO, Calif.--(BUSINESS WIRE)-- AppLovin Corporation (NASDAQ: APP), a leading marketing software company, today announced its plan to raise a new $1.5 billion term loan. The Company intends to use the net proceeds for general corporate purposes, including but not limited to acquisitions. The proposed transaction is subject to market and other conditions and there can be no assurance that AppLovin will be able to successfully complete the transaction, as described above, or at all.

JPMorgan Chase Bank, N.A. (“JPM”) and KKR Capital Markets LLC (“KCM”) (together, the “Lead Arrangers,” each in such capacity, a “Lead Arranger”) will act as a joint lead arranger and bookrunner.

About AppLovin

AppLovin’s leading marketing software provides developers with a powerful, integrated set of solutions to grow their businesses. AppLovin enables developers to market, monetize, analyze and publish their apps. The company’s first party content includes over 200+ popular, engaging apps and its technology brings that content to millions of users around the world. AppLovin is headquartered in Palo Alto, California with several offices globally.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or our future performance. In some cases, you can identify forward-looking statements because they contain words such as “will,” “expect,” “plan,” “going to,” “intend,” “aim,” “target,” “project,” “believe,” “estimate,” “potential,” or “continue,” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, priorities, plans, or intentions. Forward-looking statements in this press release include, but are not limited to, statements regarding the Company’s plans to raise a new term loan, our expected timing for the transaction and our intended use of proceeds. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties, including changes in our plans or assumptions, that could cause actual results to differ materially from those projected. These risks include our inability to complete the transaction, our ability to obtain acceptable terms and market conditions. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2021. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211013005356/en/

Investors

Ryan Gee

ir@applovin.com

Press

Kim Hughes

press@applovin.com

Source: AppLovin Corp.

FAQ

What is AppLovin's new term loan plan?

AppLovin plans to raise a new $1.5 billion term loan for general corporate purposes, including acquisitions.

Who are the lead arrangers for AppLovin's new loan?

JPMorgan Chase Bank and KKR Capital Markets are acting as joint lead arrangers for the loan.

Is there a guarantee that AppLovin will complete the loan?

No, there is no assurance that AppLovin will successfully complete the loan due to market conditions.

What does AppLovin intend to use the proceeds from the loan for?

The proceeds are intended for general corporate purposes, including acquisitions.

What is the stock symbol for AppLovin?

The stock symbol for AppLovin is APP.