AppLovin Announced The Pricing Of An Underwritten Registered Secondary Offering Of 19,866,397 Shares Of Its Class A Common Stock By KKR Denali Holdings L.p. And Disclosed It Will Not Receive Any Proceeds From The Sale
Portfolio Pulse from Benzinga Newsdesk
AppLovin announced the pricing of a secondary offering of 19,866,397 shares of its Class A common stock by KKR Denali Holdings L.P., clarifying that it will not receive any proceeds from the sale.
February 29, 2024 | 12:50 pm
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AppLovin announced a secondary offering of its shares by KKR Denali Holdings L.P., but will not benefit financially from the sale.
Secondary offerings often lead to a dilution of existing shares, potentially causing a short-term negative impact on the stock price. Although AppLovin itself won't receive proceeds, indicating the sale benefits only the selling shareholder, this could still influence investor perception negatively.
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