AppLovin’s IPO

Wilson Sonsini Goodrich & Rosati advised AppLovin on the deal while Fenwick & West LLP represented the underwriters. Simpson Thacher also advised on the deal.

AppLovin announced the pricing of its initial public offering of its Class A common stock at a price of $80.00 per share.

AppLovin is offering 22,500,000 shares of its Class A common stock and KKR Denali Holdings L.P. is offering 2,500,000 shares of Class A common stock. In connection with the offering, the underwriters will have the option to purchase up to an additional 3,750,000 shares from KKR Denali Holdings L.P. The shares began trading on the Nasdaq Global Select Market on April 15, 2021, under the symbol “APP.” The offering is expected to close on April 19, 2021, subject to customary closing conditions.

Morgan Stanley, J.P. Morgan, KKR Capital Markets, LLC, BofA Securities and Citigroup acted as lead book-running managers for the offering. Credit Suisse and UBS Investment Bank acted as additional book-running managers. Blaylock Van, LLC, Guzman & Company, LionTree Advisors, LUMA Securities, Oppenheimer & Co., R. Seelaus & Co., LLC, The Raine Group, Roberts & Ryan, Stifel, Truist Securities and William Blair acted as co-managers for the offering.

The Wilson Sonsini team advising AppLovin included: Rezwan Pavri (Picture), Lisa Stimmell, Andrew Hill, Lang Liu, Gordon Grafft, Grecia Barboza, Alex Kwok, Matt Maricic, David Thomas, Brandon Gantus, Matthew Norgard, Amy Simmerman and Ryan Greecher.

The Fenwick transaction team for AppLovin’s IPO included corporate partners Michael Esquivel, Ran Ben-Tzur and James Evans and associates Jennifer Hitchcock, Lailey Rezai and Atrina Mehdipour; securities litigation associate Alexis Caloza; executive compensation and employee benefits counsel Laura McIntyre and Mona Clee; technology transactions partner Stephen Gillespie, associate Julia Arruda and advisor Sandra Weustink; privacy and cybersecurity counsel Helen Christakos; intellectual property partners Sally Abel and Daniel Brownstone and associate Moira Lion; and tax partner Julia Ushakova-Stein and associate Sean McElroy.

Simpson Thacher represented KKR Denali Holdings L.P., a fund affiliated with KKR & Co. Inc., as a selling stockholder in the IPO, with  Joe Kaufman and Jieun Lim (Capital Markets); Marni Lerner (Mergers and Acquisitions); and Jennifer Nadborny (Public Company Advisory Practice).

Involved fees earner: Sally Abel – Fenwick & West LLP; Julia Arruda – Fenwick & West LLP; Ran Ben-Tzur – Fenwick & West LLP; Daniel Brownstone – Fenwick & West LLP; Alexis Caloza – Fenwick & West LLP; Helen Christakos – Fenwick & West LLP; Mona Clee – Fenwick & West LLP; Michael Esquivel – Fenwick & West LLP; James Evans – Fenwick & West LLP; Stephen Gillespie – Fenwick & West LLP; Jennifer Hitchcock – Fenwick & West LLP; Moira Lion – Fenwick & West LLP; Sean McElroy – Fenwick & West LLP; Laura McIntyre – Fenwick & West LLP; Atrina Mehdipour – Fenwick & West LLP; Lailey Rezai – Fenwick & West LLP; Julia Ushakova-Stein – Fenwick & West LLP; Joseph Kaufman – Simpson Thacher & Bartlett; Marni Lerner – Simpson Thacher & Bartlett; Jieun Lim – Simpson Thacher & Bartlett; Jennifer Nadborny – Simpson Thacher & Bartlett; Grecia Barboza – Wilson Sonsini Goodrich & Rosati; Brandon Gantus – Wilson Sonsini Goodrich & Rosati; Gordon Grafft – Wilson Sonsini Goodrich & Rosati; Ryan Greecher – Wilson Sonsini Goodrich & Rosati; Andrew Hill – Wilson Sonsini Goodrich & Rosati; Alex Kwok – Wilson Sonsini Goodrich & Rosati; Lang Liu – Wilson Sonsini Goodrich & Rosati; Matt Maricic – Wilson Sonsini Goodrich & Rosati; Matthew Norgard – Wilson Sonsini Goodrich & Rosati; Rezwan Pavri – Wilson Sonsini Goodrich & Rosati; Amy Simmerman – Wilson Sonsini Goodrich & Rosati; Lisa Stimmell – Wilson Sonsini Goodrich & Rosati; David Thomas – Wilson Sonsini Goodrich & Rosati;

Law Firms: Fenwick & West LLP; Simpson Thacher & Bartlett; Wilson Sonsini Goodrich & Rosati;

Clients: AppLovin Corp.; Bank of America Securities; Blaylock Van, LLC; Citigroup Inc.; Credit Suisse; Guzman & Company; J.P. Morgan Securities LLC; KKR; KKR Capital Markets Limited; LionTree Advisors LLC; LUMA Partners; Morgan Stanley; Oppenheimer & Co; R. Seelaus & Co.; Roberts and Ryan Investments; Stifel Financial Corp.; The Raine Group; Truist Securities Inc. ; UBS Investment Bank; William Blair & Company, L.L.C.;

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Martina Bellini

Author: Martina Bellini