Fenwick represented the underwriters in AppLovin’s (Nasdaq: APP) $622.5 million upsized secondary public offering. Certain existing stockholders of Applovin, a leading marketing software company, offered 7,500,000 shares of Class A common stock, at a public offering price of $83.00 per share. The underwriters also have a 30-day option to purchase up to an additional 1,125,000 shares from one of the selling stockholders. The selling stockholders will receive all of the proceeds from the offering. AppLovin is not offering any shares of its Class A common stock in the offering.
J.P. Morgan, BofA Securities, Citigroup and Morgan Stanley acted as lead book-running managers for the offering. Credit Suisse, UBS Investment Bank and Goldman Sachs & Co. LLC acted as additional book-running managers. Oppenheimer & Co. Inc., Stifel, William Blair, LionTree, LUMA Securities, The Raine Group, Blaylock Van, LLC, Guzman & Company, Roberts & Ryan and R. Seelaus & Co., LLC acted as co-managers. More information can be obtained from the company’s announcement.
The Fenwick transaction team for AppLovin’s secondary offering included corporate partners Ran Ben-Tzur, Michael Esquivel, and Jamie Evans, and associates Michael Shaw, Lailey Rezai, Atrina Mehdipour and Stephanie Aldous; technology transactions partner Stephen Gillespie; privacy and cybersecurity counsel Helen Christakos; and tax partner Julia Ushakova-Stein and associate Sean McElroy.