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.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100