AppLovin Announces Pricing of Initial Public Offering

Rhea-AI Summary

AppLovin has priced its initial public offering of 25,000,000 shares of Class A common stock at $80.00 per share. The offering includes 22,500,000 shares from AppLovin and 2,500,000 shares from KKR Denali Holdings L.P. The underwriters have a 30-day option to purchase an additional 3,750,000 shares. AppLovin will not receive proceeds from KKR's shares. Trading on the Nasdaq under the symbol 'APP' is expected to commence on April 15, 2021, with closing anticipated by April 19, 2021, pending customary conditions.

Positive

• Initial public offering priced at $80.00 per share.
• Potential to raise significant capital with a 30-day option for underwriters to purchase additional shares.

Negative

• AppLovin will not receive proceeds from the sale of shares by KKR Denali Holdings L.P.

AppLovin Corporation (“AppLovin”), a global technology platform that provides developers a unified set of tools to grow their business, today announced the pricing of its initial public offering of 25,000,000 shares of its Class A common stock at a price of $80.00 per share. AppLovin is offering 22,500,000 shares of its Class A common stock and KKR Denali Holdings L.P. is offering 2,500,000 shares of Class A common stock. In connection with the offering, the underwriters will have a 30-day option to purchase up to an additional 3,750,000 shares from KKR Denali Holdings L.P. AppLovin will not receive any proceeds from the sale of shares by KKR Denali Holdings L.P. AppLovin’s Class A common stock is expected to begin trading on the Nasdaq Global Select Market on April 15, 2021 under the symbol “APP” and the offering is expected to close on April 19, 2021, subject to customary closing conditions.

A registration statement relating to the sale of these securities was declared effective by the Securities and Exchange Commission on April 14, 2021. Morgan Stanley, J.P. Morgan, KKR Capital Markets, LLC, BofA Securities and Citigroup are acting as lead book-running managers for the offering. Credit Suisse and UBS Investment Bank are acting as additional book-running managers for the offering. Blaylock Van, LLC, Guzman & Company, LionTree Advisors, LUMA Securities, Oppenheimer & Co., R. Seelaus & Co., LLC, The Raine Group, Roberts & Ryan, Stifel, Truist Securities, and William Blair are acting as co-managers for the offering. The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained by contacting: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmorganchase.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 laws of any such state or jurisdiction.

About AppLovin

AppLovin’s global technology platform provides developers a powerful, integrated set of solutions to grow their businesses. AppLovin enables developers to market, monetize, analyze and publish their apps. Its studios create popular, immersive content and its technology brings that content to users around the world. AppLovin is headquartered in Palo Alto, California with several offices globally.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210414006011/en/

FAQ

What is the share price for AppLovin's IPO?

The initial public offering is priced at $80.00 per share.

When will AppLovin start trading on Nasdaq?

AppLovin's Class A common stock is expected to begin trading on Nasdaq on April 15, 2021.

How many shares are being offered in AppLovin's IPO?

A total of 25,000,000 shares of Class A common stock are being offered.

Who is offering shares in AppLovin's IPO?

AppLovin is offering 22,500,000 shares, and KKR Denali Holdings L.P. is offering 2,500,000 shares.

What is the expected closing date for the AppLovin IPO?

The offering is expected to close on April 19, 2021, subject to customary closing conditions.