KKR sells 10M AppLovin shares to GQG Partners in direct placement

AppLovin Corp

KKR Denali Holdings sells 10 million shares of AppLovin Class A common stock to GQG Partners.
AppLovin receives no proceeds; KKR gets all proceeds from the transaction.
Transaction expected to close on August 21, 2023.
GQG increases its investment in AppLovin, citing strong execution.
AppLovin is not issuing new shares; no dilution for existing shareholders.

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