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AppLovin Stock Down 8% After Pricing Secondary Offering At $83 A Share

Shares of AppLovin Corporation (APP) are slipping over 8% on Friday morning after the marketing software company priced a secondary offering at $83.00 per share.

APP is currently trading at $82.67, down $7.65 or 8.48%, on the Nasdaq. The stock has traded between $49.41 and $116.09 in the past 8 month period.

AppLovin Friday said it priced upsized offering of 7.5 million shares at $83.00 per share, with all shares offered by certain of AppLovin's stockholders, including KKR Denali Holdings L.P.

The offering is expected to close on December 7, 2021, with all of the proceeds from the offering going to selling stockholders. AppLovin is not offering any shares of its common stock in the offering.

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