Benzinga | Apr 15, 2021 07:08AM EDT

AppLovin Raises $1.8B From IPO, To Start Trading Today

* Mobile technology company AppLovin Corporation (NASDAQ: APP) priced 25 million shares at $80 per share in its initial public offering (IPO) to rake in $1.8 billion.

* The IPO included 2.5 million shares from selling shareholder KKR Denali Holdings L.P.

* The underwriters have a 30-day option to purchase additional shares up to 3.75 million from KKR.

* AppLovin platform offers developers an integrated set of tools for business growth.

* AppLovin's shares are expected to trade on the Nasdaq under the symbol "APP" from today.

* Morgan Stanley, J.P. Morgan, KKR Capital Markets, LLC, BofA Securities, and Citigroup are the lead book-running managers for the offering.