AppLovin Corp. Enters Material Definitive Agreement
Ticker: APP · Form: 8-K · Filed: Mar 14, 2024 · CIK: 1751008
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: APP
TL;DR
AppLovin just signed a big deal, could be good or bad, need more info.
AI Summary
On March 14, 2024, AppLovin Corp. entered into a material definitive agreement related to a direct financial obligation. The filing does not specify the nature of the agreement or any associated dollar amounts.
Why It Matters
This filing indicates a significant new agreement for AppLovin Corp., which could impact its financial obligations and future operations.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, but lacks specific details, creating uncertainty.
Key Players & Entities
- AppLovin Corp. (company) — Registrant
- March 14, 2024 (date) — Date of Report
- Delaware (jurisdiction) — State of Incorporation
- 1100 Page Mill Road (address) — Principal Executive Offices
- Palo Alto, California 94304 (address) — Principal Executive Offices
FAQ
What is the nature of the material definitive agreement AppLovin Corp. entered into?
The filing states that AppLovin Corp. entered into a material definitive agreement, but does not specify its nature.
What is the specific financial obligation AppLovin Corp. has undertaken?
The filing mentions the creation of a direct financial obligation, but does not provide specific details about the obligation itself.
When was the material definitive agreement entered into?
The agreement was entered into on March 14, 2024.
What is AppLovin Corp.'s principal executive office address?
AppLovin Corp.'s principal executive office is located at 1100 Page Mill Road, Palo Alto, California 94304.
What is the SEC file number for AppLovin Corp.?
AppLovin Corp.'s SEC file number is 001-40325.
Filing Stats: 1,060 words · 4 min read · ~4 pages · Grade level 10 · Accepted 2024-03-14 09:00:47
Key Financial Figures
- $0.00003 — tered Class A common stock, par value $0.00003 per share APP The Nasdaq Stock Market L
- $1,463,750,000 — ng term loans in an aggregate amount of $1,463,750,000 (such refinancing term loans, the "Amen
- $2,092,500,000 — ng term loans in an aggregate amount of $2,092,500,000 (such loans being referred to as the "I
Filing Documents
- app-20240314.htm (8-K) — 30KB
- creditagreementexhibit101.htm (EX-10.1) — 2733KB
- 0001751008-24-000017.txt ( ) — 3237KB
- app-20240314.xsd (EX-101.SCH) — 2KB
- app-20240314_lab.xml (EX-101.LAB) — 21KB
- app-20240314_pre.xml (EX-101.PRE) — 12KB
- app-20240314_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On March 14, 2024, AppLovin Corporation ("AppLovin" or "Company") entered into Amendment No. 10 ("Amendment No. 10") to that certain Credit Agreement, dated as of August 15, 2018, by and among AppLovin, as borrower, Bank of America, N.A., as administrative agent and collateral agent, and the other parties thereto, as amended by Amendment No. 1 to the Credit Agreement, dated as of April 23, 2019, Amendment No. 2 to the Credit Agreement, dated as of April 27, 2020, Amendment No. 3 to the Credit Agreement, dated as of May 6, 2020, Amendment No. 4 to the Credit Agreement, dated as of October 27, 2020, Amendment No. 5 to the Credit Agreement, dated as of February 12, 2021, Amendment No. 6 to the Credit Agreement, dated as of October 25, 2021, Amendment No. 7 to the Credit Agreement, dated January 3, 2023, Amendment No. 8 to the Credit Agreement, dated June 12, 2023, and Amendment No. 9 to the Credit Agreement, dated August 18, 2023 (the "Credit Agreement"; the Credit Agreement as amended by Amendment No. 10, the "Amended Credit Agreement"). In connection with and pursuant to Amendment No. 10, the Company voluntarily prepaid a portion of the term loans extended pursuant to Amendment No. 6 outstanding immediately prior to the effectiveness of Amendment No. 10, and certain lenders agreed to provide refinancing term loans in an aggregate amount of $1,463,750,000 (such refinancing term loans, the "Amendment No. 10-I Replacement Term Loans"), the proceeds of which were used to refinance the remainder of such term loans. The Amendment No. 10-I Replacement Term Loans have (a) a maturity date of October 25, 2028 (or if not a business day, the immediately preceding business day), (b) an interest rate "floor" of 50 basis points if such loans bear interest based on the secured overnight financing rate (such loans, "Term SOFR Loans"), and (c) an applicable margin for Term SOFR Loans equal to 2.5% (or 1.5% for base rate loans),
03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant The information set forth under Item 1.01 is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits: Exhibit No. Exhibit Description 10.1 Amendment No. 10 to Credit Agreement, by and between the registrant, the lenders from time to time party thereto, Bank of America, N.A., as administrative agent and collateral agent, and the other parties thereto, dated March 14, 2024. 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: March 14, 2024 /s/ Matthew A. Stumpf Matthew A. Stumpf Chief Financial Officer