AppLovin Raises $1.8B From IPO, To Start Trading Today
- Mobile technology company AppLovin Corporation (NASDAQ: 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.
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