AppLovin repurchases 15.95M shares from KKR at $21.00, an 8% discount; boosts buyback authorization by $296M

AppLovin Corp

Private repurchase of 15,952,381 shares from KKR Denali at $21.00/share, total ~$335M; 8% discount to $22.88 close.
Closing expected by May 18, 2023; Special Committee of independent directors approved the transaction.
Board increased share repurchase authorization by $296M to $500M; $165M remains available after this repurchase.
Repurchases may be made via open market or private transactions subject to market conditions and legal requirements.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AppLovin Corp entered into Share Repurchase Agreement with KKR Denali Holdings L.P. valued at approximately $335 million (effective 2023-05-17).

Action: entry
Agreement: equity purchase
Counterparty: KKR Denali Holdings L.P.
Value: approximately $335 million
Effective: 2023-05-17

Exact text from the filing

On May 17, 2023, AppLovin Corporation (“AppLovin”) entered into an agreement to repurchase 15,952,381 shares of its Class A common stock, par value $0.00003 per share (the “Class A Common Stock”), beneficially owned by KKR Denali Holdings L.P. (“KKR Denali”) in a private transaction at a price per share equal to $21.00, for an aggregate purchase price of approximately $335 million (the “Share Repurchase Agreement”).

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23 material agreements filed in the last 30 days. Browse all material agreements →

AppLovin Corp filing history →

Source: SEC EDGAR

accession 0001193125-23-146599

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