secwatch.observer — SEC 8-K summary
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Issuer:     AppLovin Corp (APP)
CIK:        0001751008
Form:       8-K
Filed at:   2023-08-21T23:59:59+00:00
Accession:  0001193125-23-216397
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AppLovin to repurchase 15M shares from KKR Denali for $552.75M at $36.85/share
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- Repurchases 15M shares from KKR Denali at $36.85/share for $552.75M total, a 3.6% discount to Aug 18 close of $38.23.
- Closing expected by Aug 28, 2023; transaction approved by special committee of independent directors not affiliated with KKR.
- Board increased share repurchase authorization by ~$448M to $555M; after closing, $2.25M remains under the program.
- Sale reduces KKR Denali's beneficial ownership; company funds deal with available cash on hand.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1751008/000119312523216397/0001193125-23-216397-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1751008/000119312523216397/d541078d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-216397

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