KKR Completes Sales of AppLovin Common Stock Totaling $680 Million
06.20.23
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Simpson Thacher represented KKR Denali Holdings L.P., a fund affiliated with KKR & Co. Inc., in connection with both a repurchase by AppLovin Corporation of 15,952,381 shares of Class A common stock from KKR Denali for gross proceeds of approximately $335 million as well as a direct registered sale of 15,000,000 shares of Class A common stock from KKR Denali to a third-party investor for gross proceeds of $345 million.
AppLovin’s full stack software solution provides advanced tools for mobile app developers to grow their businesses. AppLovin enables developers to manage, optimize, and analyze their marketing investments, and improve the monetization of their apps.
The Simpson Thacher team for the transactions included Joe Kaufman, Jessica Asrat and Anna Jarman (Capital Markets); Marni Lerner (M&A); Jennifer Nadborny (Public Company Advisory Practice); and Marcy Geller and Bill Smolinski (Tax).