AppLovin said it entered into an underwriting agreement with KKR Denali Holdings L.P. (Selling Stockholder) and BofA Securities, Inc. for a secondary public offering of 19,866,397 Class A common shares at $56.00 per share on February 29, 2024.

1. 01

   AppLovin said it entered into an underwriting agreement with KKR Denali Holdings L.P. (Selling Stockholder) and BofA Securities, Inc. for a secondary public offering of 19,866,397 Class A common shares at $56.00 per share on February 29, 2024.

2. 02

   The company said it agreed, subject to completion of the offering, to repurchase 10,466,397 Class A common shares from the underwriters at $54.46 per share, the same price the underwriters will pay the Selling Stockholder.

3. 03

   The company said it expects the offering and concurrent repurchase to close in March 6, 2024, subject to customary closing conditions. It also said it will not receive any proceeds from the Selling Stockholder's sale of Class A common stock.

4. 04

   The company said the Selling Stockholder is expected to convert about 16,000,000 Class B common shares into an equal number of Class A common shares for no consideration in connection with the offering.

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Original filing

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