AppLovin Announces GQG Purchase of 10 Million Shares of Class A Common Stock from KKR
14 Agosto 2023 - 10:22AM
Business Wire
AppLovin 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 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 experiences at a
massive global scale. AppLovin is headquartered in Palo Alto,
California with several offices globally.
About GQG
GQG 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 $108 billion in client assets as of July 31, 2023. GQG
is listed on the Australian Securities Exchange and is majority
owned by its employees. Headquartered in Ft. Lauderdale, Florida,
with offices in New York, London, Seattle and Sydney, the firm
strives for excellence at all levels of its organization through a
commitment to independent thinking, continual growth, cultural
integrity, and a deep knowledge of the markets.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people and supporting growth in its portfolio companies
and communities. KKR sponsors investment funds that invest in
private equity, credit and real assets and has strategic partners
that manage hedge funds. KKR’s insurance subsidiaries offer
retirement, life and reinsurance products under the management of
Global Atlantic Financial Group. References to KKR’s investments
may include the activities of its sponsored funds and insurance
subsidiaries.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act of 1934. Forward-looking statements in
this release include statements regarding the closing of the
transaction between KKR and GQG and the filing of a prospectus
supplement. These forward-looking statements are subject to risks
and uncertainties, including risks and uncertainties associated
with a transaction between two third parties to the Company, as
well as the risks described in our Quarterly Report on Form 10-Q
for the quarter ending June 30, 2023. The forward-looking
statements in this press release are based on information available
to us as of the date hereof, and we disclaim any obligation to
update any forward-looking statements, except as required by
law.
Source: AppLovin Corp.
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version on businesswire.com: https://www.businesswire.com/news/home/20230814532288/en/
Investors David Hsiao ir@applovin.com
Press Kim Hughes press@applovin.com
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