AppLovin Announces Launch of Initial Public Offering

PALO ALTO, Calif.--(BUSINESS WIRE)--AppLovin Corporation (“AppLovin”), a global technology platform that provides developers a unified set of tools to grow their business, today announced that it has commenced an initial public offering of 25,000,000 shares of its Class A common stock. 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. The initial public offering price is expected to be between $75.00 and $85.00 per share. AppLovin’s Class A common stock is expected to trade on the Nasdaq Global Select Market under the symbol “APP.”

Morgan Stanley, J.P. Morgan, KKR Capital Markets, LLC, BofA Securities and Citigroup will act as lead book-running managers for the offering. Credit Suisse and UBS Investment Bank will act 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 will act as co-managers for the offering. The offering is being made only by means of a prospectus. Copies of the preliminary 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 [e-mail].

A registration statement relating to the proposed sale of these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. 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.