AppLovin Prices $622.5M Upsized Equity Offering At 8% Discount

Comments
Loading...
  • Marketing software company AppLovin Corp APP priced 7.5 million shares at $83 per share in an upsized secondary offering.
  • The offer price implies an 8.1% discount to AppLovin's December 2 closing price of $90.32. AppLovin initially intended to sell 6.5 million shares.
  • The estimated gross proceed is $622.5 million. AppLovin has not disclosed the reason behind the offering.
  • The offering includes shares offered by selling shareholder KKR Denali Holdings L.P. However, they have not declared how many shares it wished to sell. 
  • AppLovin will not receive any proceeds from the share sale by the selling shareholders.
  • The underwriters have a 30-day option to purchase additional shares up to 1.1 million.
  • Price Action: APP shares traded lower by 5.89% at $85 on the last check Friday.
APP Logo
APPAppLovin Corp
$259.509.00%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum99.21
Growth38.88
Quality-
Value9.62
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs

Posted In: