[ad_1]
AppLovin Corporation APP (“AppLovin” or the “Company”), a leading marketing platform, today announced that KKR Denali Holdings L.P. (“KKR”) entered into an agreement with GQG Partners LLC (“GQG”), a leading global equity investment boutique, to sell 10 million shares of AppLovin’s Class A common stock in a direct placement to client accounts managed by GQG.
Adam Foroughi, AppLovin’s co-founder, Chief Executive Officer and Chairperson, said, “We appreciate GQG’s support and look forward to our continued relationship.”
GQG said, “GQG is delighted to announce that it has increased its investment in AppLovin on behalf of client accounts. We have been impressed by the company’s strong execution.”
The transaction is expected to close on August 21, 2023. KKR will receive all of the proceeds from the offering. AppLovin is not offering any shares of its common stock in the offering. This transaction was negotiated directly between KKR and GQG.
The sale of shares will be made pursuant to a shelf registration statement that became effective automatically upon its filing with the Securities and Exchange Commission (the “SEC”) on June 1, 2023 and a prospectus supplement that will be filed with the SEC by August 16, 2023. Copies of these documents may be obtained, free of charge, at the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 accelerates business growth with market leading technologies. AppLovin’s end-to-end software solutions support profitable growth by optimizing monetization and by using powerful machine learning to make data-driven marketing decisions. AppLovin partners with businesses to deliver personalized…
[ad_2]
