AppLovin Raises $1.8B From IPO, To Start Trading Today

Mobile technology company AppLovin Corporation APP priced 25 million shares at $80 per share in its initial public offering (IPO) to rake in $1.8 billion.
The IPO included 2.5 million shares from selling shareholder KKR Denali Holdings L.P.
The underwriters have a 30-day option to purchase additional shares up to 3.75 million from KKR.
AppLovin platform offers developers an integrated set of tools for business growth.
AppLovin's shares are expected to trade on the Nasdaq under the symbol "APP" from today.
Morgan Stanley, J.P. Morgan, KKR Capital Markets, LLC, BofA Securities, and Citigroup are the lead book-running managers for the offering.