AppLovin announces pricing of secondary offering of common stock

AppLovin Corporation 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. 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 $570M 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.