AppLovin (APP) IPO Opens 13% Lower

Today's IPO for AppLovin Corporation (NASDAQ: APP) opened for trading at $70 after pricing 25,000,000 shares of its Class A common stock at a price of $80.00 per share. 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.

Morgan Stanley, J.P. Morgan, KKR Capital Markets, LLC, BofA Securities and Citigroup are acting as lead book-running managers for the offering. Credit Suisse and UBS Investment Bank are acting 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 are acting as co-managers for the offering.

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.

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