8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 20, 2021

AppLovin Corporation

(Exact name of registrant as specified in its charter)

Delaware	001-40325	45-3264542
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1100 Page Mill Road

Palo Alto, California 94304

(Address of principal executive offices, including zip code)

(800) 839-9646

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A common stock, par value $0.00003 per share	APP	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

EXPLANATORY NOTE

On March 12, 2021, AppLovin Corporation (the “Company”) entered into an Amended and Restated Share Purchase Agreement by and among the Company, Applovin Active Holdings, LLC, adjust GmbH (“Adjust”), the shareholders of Adjust and Spree Eternity GmbH, which was amended on March 30, 2021 (as amended, the “Purchase Agreement”). The Company previously reported the entry into the Purchase Agreement in Amendment No. 2 to the Registration Statement on Form S-1 (File No. 333-258500) filed with the Securities and Exchange Commission (the “SEC”) on April 7, 2021. The Company is hereby reporting the closing of the transaction contemplated by the Purchase Agreement. The Company will amend this Current Report on Form 8-K within 71 days after April 26, 2021, the date by which this Form 8-K was required to be filed, to file with the SEC the financial statements of Adjust and related pro forma financial information as required by parts (a) and (b) of Item 9.01 of Form 8-K within the time period specified in Form 8-K.

Item 2.01 Completion of Acquisition or Disposition of Assets.

On April 20, 2021, the Company completed its previously announced acquisition of Adjust pursuant to the Purchase Agreement. Pursuant to the terms of the Purchase Agreement, on April 20, 2021, the Company acquired all the outstanding shares of Adjust in exchange for (i) $598.0 million in cash, subject to certain purchase price adjustments; (ii) convertible securities that automatically convert into an aggregate number of shares of our Class A common stock determined by dividing $352.0 million by the volume-weighted average trading price per share of our Class A common stock over any 10 consecutive full trading day period (chosen by the stockholder representative under the Purchase Agreement) within 20 trading days commencing with and following April 15, 2021; and (iii) the assumption of up to $40.0 million in the aggregate of debt, accrued interest, and fees of Adjust, in each case upon the terms and subject to the conditions of the Purchase Agreement.

The issuance of the convertible securities did not involve any underwriters, any underwriting discounts or commissions, or any public offering. The Company believes the offer, sale, and issuance of the convertible securities was exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”) by virtue of Section 4(a)(2) of the Securities Act and Regulation S promulgated under the Securities Act, because the issuance of securities to the recipients did not involve a public offering. The shares of our Class A common stock issuable upon conversion of the convertible securities will be issued in reliance on the exemption from registration in Section 3(a)(9) of the Securities Act because no commission or other remuneration is expected to be paid in connection with conversion of the convertible securities and the resulting issuance of shares of our Class A common stock. The recipients of the securities in the transaction represented their intentions to acquire the securities for investment only and not with a view to or for sale in connection with any distribution thereof, and appropriate legends were placed upon the stock certificates issued in the transaction. All recipients had adequate access, through their relationships with us or otherwise, to information about us. The issuance of these securities was made without any general solicitation or advertising.

Item 3.02 Unregistered Sales of Equity Securities.

The information set forth in Item 2.01 above is incorporated by reference into this Item 3.02.

Item 7.01 Regulation FD Disclosure.

On April 22, 2021 the Company issued a press release announcing the completion of the acquisition of Adjust. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The information in Item 7.01 of this Current Report on Form 8-K and the exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits:

Exhibit No.	Exhibit Description
99.1	Press Release, dated April 22, 2021.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	APPLOVIN CORPORATION
Date: April 23, 2021	/s/ Herald Chen
	Herald Chen
	Chief Financial Officer

EX-99.1

Exhibit 99.1

AppLovin Completes Acquisition of Adjust, a Mobile App Measurement Market Leader, to Expand its Global Technology Platform

PALO ALTO, Calif., — April 22, 2021 — AppLovin (Nasdaq: APP), a global technology and apps platform that provides developers a unified set of tools to grow their business, today announced it completed its pending acquisition of Adjust, a global mobile app measurement and marketing company. Adjust will retain its unique brand and culture and continue to operate as a distinct company. The closing occurred after completion of stockholder and regulatory approvals.

With the acquisition, Adjust provides AppLovin with a set of strategic SaaS mobile marketing solutions that expands the suite of innovative software tools for mobile app developers to grow their businesses and helps further enhance AppLovin’s ability to address its large market opportunity. Additionally, Adjust brings a strong, global team that has experience serving customers across a diverse set of mobile app categories including fintech, ecommerce, gaming and entertainment.

As one of the largest technology platforms for app developers in the world, AppLovin brings a depth of knowledge and expertise to help Adjust further innovate the attribution and analytics product suite it has successfully built.

“The acquisition of Adjust is another major milestone for AppLovin. We are focused on continuing to build and innovate our software set for developers and execute on our strategy to grow our business on multiple levels,” said Adam Foroughi, AppLovin Co-Founder, Chairperson and CEO. “Adjust’s real-time app solutions align with our growth strategy, while their large and diversified client base and globally distributed sales infrastructure will help us continue to grow rapidly.”

Founded in 2012, Adjust’s marketing platform helps mobile developers better understand their users’ journey while allowing marketers to make smarter decisions through measurement, attribution and fraud prevention. Adjust’s suite of products makes marketing simpler, smarter and more secure for over 50,000 apps including global brands such as Tencent, Rakuten and SoundCloud. Adjust is headquartered in Berlin, Germany, with 16 offices around the world and over 500 employees.

“Becoming a part of AppLovin allows us to accelerate on our own vision while further powering our clients’ growth as we shape the future of the app economy globally,” said Paul Müller, Adjust Co-Founder and CEO. “Joining forces with AppLovin as a newly public company is an extremely exciting time to contribute and innovate on products.”

Fenwick & West LLP and Gleiss Lutz served as the legal advisors for AppLovin. Citi acted as exclusive financial advisor to AppLovin. Noerr and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisors for Adjust.

# # #

About AppLovin

AppLovin’s (Nasdaq: APP) global technology platform provides developers a powerful, integrated set of solutions to grow their businesses. AppLovin enables developers to market, monetize, analyze and publish their apps. Its studios create popular, immersive content and its technology brings that content to users around the world. AppLovin is headquartered in Palo Alto, California with several offices globally. Learn more at applovin.com.

Media Contact:

Emelyne Interior

press@applovin.com

Investor Contact:

ir@applovin.com

XML

Document and Entity Information	Apr. 20, 2021
Cover [Abstract]
Entity Registrant Name	Applovin Corp
Amendment Flag	false
Entity Central Index Key	0001751008
Document Type	8-K
Document Period End Date	Apr. 20, 2021
Entity Incorporation State Country Code	DE
Entity File Number	001-40325
Entity Tax Identification Number	45-3264542
Entity Address, Address Line One	1100 Page Mill Road
Entity Address, City or Town	Palo Alto
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94304
City Area Code	(800)
Local Phone Number	839-9646
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Class A common stock, par value $0.00003 per share
Trading Symbol	APP
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false