Press release
AppLovin Announces GQG Purchase of 15 Million Shares of Class A Common Stock from KKR
PALO ALTO, Calif.--(BUSINESS WIRE)-- AppLovin Corporation (NASDAQ: APP) (“AppLovin” or the “Company”), a leading marketing platform, today announced that KKR
About this update from Applovin Corporation
[{"type":"text","content":" PALO ALTO, Calif.--(BUSINESS WIRE)--\nAppLovin Corporation (NASDAQ: 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 15,000,000 shares of AppLovin’s Class A common stock in a direct placement to client accounts managed by GQG.\n\n\nThe transaction is expected to close on June 9, 2023. KKR will receive all of the proceeds from the offering. AppLovin is not offering any shares of its common stock in the offering.\n\n\nThis transaction was negotiated directly between KKR and GQG. The Company and KKR believe that the transaction will assist in adding new long-term oriented investors to the Company’s shareholder base.\n\n\nThe 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 filed with the SEC on June 1, 2023. Copies of these documents may be obtained, free of charge, at the SEC’s website at www.sec.gov.\n\n\nThis 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.\n\n\nAbout AppLovin\n\n\nAppLovin 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 experiences at a massive global scale. AppLovin is headquartered in Palo Alto, California with several offices globally.\n\n\nAbout GQG\n\n\nGQG Partners is a leading global equity investment boutique. Driven by client-alignment, GQG has delivered strong long-term investment results across its core strategies. GQG Partners manages more than US $98 billion in client assets as of April 30, 2023. GQG is listed on the Australian Securities Exchange and is majority owned by its employees. Headquartered in Ft. Lauderdale Florida, with o...