Applovin Corp - APP STOCK NEWS

AppLovin Corporation (Nasdaq: APP) has announced the pricing of an upsized underwritten offering of 7,500,000 shares of its Class A common stock at $83.00 per share. The shares are being offered by certain stockholders, including KKR Denali Holdings L.P., which has also provided a 30-day option for underwriters to purchase an additional 1,125,000 shares. The offering is set to close on December 7, 2021, pending customary conditions. All proceeds from the sale will go to the selling stockholders, as AppLovin is not selling shares in this offering.

AppLovin Corporation (NASDAQ: APP) announced a secondary offering by certain stockholders, including KKR Denali Holdings L.P., of 6,500,000 shares of its Class A common stock. The underwriters will have a 30-day option to purchase up to an additional 975,000 shares. All proceeds will go to the selling stockholders, as AppLovin is not offering any of its shares. The offering is managed by J.P. Morgan, BofA Securities, Citigroup, and Morgan Stanley, among others. A registration statement has been filed with the SEC but is not yet effective.

AppLovin Corporation (NASDAQ: APP) will have its CEO Adam Foroughi participate in a fireside chat at the Credit Suisse 25th Annual Technology Conference on December 1, 2021, at 10:40 a.m. PT in Scottsdale, Arizona. This event will be livestreamed and a recording will be available on their investor relations website post-event. AppLovin is recognized for its integrated marketing software solutions that help developers grow their businesses.

AppLovin Corporation has appointed Alyssa Harvey Dawson to its Board of Directors. With over 20 years of experience in legal and business roles, she previously served as Chief Legal Officer at Gusto and General Counsel at Alphabet’s Sidewalk Labs. CEO Adam Foroughi highlighted her expertise in corporate governance, compliance, and data privacy as vital for AppLovin's growth. Dawson expressed enthusiasm about joining the board, emphasizing alignment in supporting app developers.

AppLovin Corporation (NASDAQ: APP) has appointed Alyssa Harvey Dawson to its Board of Directors. With over 20 years of experience in legal and business sectors, she previously served as General Counsel at Alphabet's Sidewalk Labs. Dawson's proven expertise in compliance, corporate governance, and risk management is expected to bolster AppLovin's strategic direction. CEO Adam Foroughi highlighted her valuable experience in aiding company growth and advising on complex transactions. Dawson's appointment aims to enhance AppLovin's capabilities in navigating the evolving mobile app ecosystem.

AppLovin Corporation (NASDAQ: APP) reported strong financial results for Q3 2021, with revenue increasing by 90% year-over-year to $727 million. Notably, the Business Software Platform revenue surged by 385% year-over-year to $193 million, driven by a record 449 Software Platform Enterprise Clients. Adjusted EBITDA rose 126% year-over-year to $191 million, while net income improved to $0.1 million from a loss of $90 million. The company continues to expand its market position with a robust Net Dollar-Based Retention Rate of 255%.

Wynn Resorts announced that CEO Matt Maddox will step down on January 31, 2022, following a unanimous decision by the Board. Craig Billings, currently CEO of Wynn Interactive, will succeed him starting February 1, 2022. Maddox has led the company through significant challenges, including the pandemic, and is credited with enhancing diversity in leadership and the successful launch of Encore Boston Harbor. Billings brings extensive industry experience and has been a board member since 2018.

AppLovin announces the launch of Bermuda Adventures by partner studio Belka Games, marking a significant milestone in game development. This title, available on iOS and Android, invites players to explore mysterious islands while engaging in customizable gameplay. Belka Games has expanded its team by 140% and achieved over 200% revenue growth following AppLovin's strategic investment two years ago. Belka ranks among the top game publishers globally, reflecting its strong market presence and potential for further growth.

AppLovin Corporation (NASDAQ: APP) has successfully closed a new $1.5 billion term loan, which will be utilized for general corporate purposes, including potential acquisitions. The loan carries an interest rate of LIBOR plus 3.00% with a 0.50% LIBOR floor. Major financial institutions including JPMorgan Chase Bank, BofA Securities, and Goldman Sachs acted as joint lead arrangers for the loan. The company aims to leverage these funds to enhance its business growth and expand its market reach.