Item 3.02 Unregistered Sales of Equity Securities
In connection with an agreement and plan of reorganization entered into on
February 23, 2022, AppLovin Corporation (the "Company") agreed to issue an
aggregate of approximately 2.7 million shares of its Class A common stock to
certain security holders of Wurl, Inc. ("Wurl") as a portion of the
consideration for all of the outstanding equity of Wurl. The Company estimated
the aggregate number of shares based on the average of the daily volume weighted
average price per share of the Company's Class A common stock on the Nasdaq
Stock Market for the thirty (30) consecutive trading days ending on February 16,
2022. The final number of shares of the Company's Class A common stock to be
issued in connection with the acquisition is subject to adjustment based on
purchase price adjustment provisions in the agreement and plan of
reorganization.
The proposed issuance of shares of the Company's Class A common stock to certain
security holders of Wurl in accordance with the terms and subject to the
conditions set forth in the acquisition agreement will be made in reliance on
the private offering exemption of Section 4(a)(2) of the Securities Act and/or
the private offering safe harbor provisions of Rule 506 of Regulation D based on
the following factors: (i) the number of offerees or purchasers, as applicable,
(ii) the absence of general solicitation, (iii) investment representations
obtained from the security holders of Wurl, including with respect to their
status as accredited investors, (iv) the provision of appropriate disclosure,
and (v) the placement of restrictive legends on the certificates reflecting the
securities. The proposed issuance of shares will not involve any underwriters,
any underwriting discounts or commissions, or any public offering.
Item 8.01 Other Events
Share Repurchase Program
On February 28, 2022, the Company announced that its board of directors has
authorized the repurchase of up to $750 million of the Company's Class A common
stock. Repurchases may be made from time to time through open market purchases
or through privately negotiated transactions subject to market conditions,
applicable legal requirements and other relevant factors. Open market
repurchases may be structured to occur in accordance with the requirements of
Rule 10b-18. The Company may also, from time to time, enter into Rule 10b5-1
plans to facilitate repurchases of its shares under this authorization. The
repurchase program does not obligate the Company to acquire any particular
amount of its Class A common stock, and may be suspended at any time at the
Company's discretion.
2022 Annual Meeting of Stockholders
The Board has scheduled the Company's Annual Meeting of Stockholders (the
"Annual Meeting") for June 8, 2022. Because the Company did not hold an annual
meeting of stockholders in 2021, the Company has set a deadline of March 10,
2022 for the receipt of any stockholder proposals for inclusion in the proxy
materials to be distributed in connection with the Annual Meeting pursuant to
Rule 14a-8 under the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), which the Company believes to be a reasonable time before it expects to
begin to print and distribute its proxy materials for the Annual Meeting. Any
Exchange Act Rule 14a-8 proposal received after this date will be considered
untimely. Stockholders should send any such proposal to AppLovin Corporation,
Attn: Corporate Secretary, 1100 Page Mill Road, Palo Alto, California 94304, and
such proposal must comply with all applicable requirements set forth in the
rules and regulations of the Securities and Exchange Commission, including
Exchange Act Rule 14a-8, in order to be eligible for inclusion in the Company's
proxy materials for the Annual Meeting.
Pursuant to the Company's amended and restated bylaws (the "Bylaws"), any
stockholder seeking to raise a proposal outside the processes of Exchange Act
Rule 14a-8 or make a nomination for consideration at the Annual Meeting, but not
included in the proxy materials for the Annual Meeting, must comply with the
requirements of the Bylaws, including by delivering notice of their proposal or
nomination to AppLovin Corporation, Attn: Corporate Secretary, 1100 Page Mill
Road, Palo Alto, California 94304, no later than 5:00 p.m., Pacific time, on
March 10, 2022. Any proposal or nomination received after such date will be
considered untimely and will not be considered at the Annual Meeting.
--------------------------------------------------------------------------------
An adjournment, rescheduling or postponement of the Annual Meeting date, or any
announcement of such action, will not commence a new time period (or extend any
time period) for giving such notice under the Bylaws or submitting a proposal
pursuant to Exchange Act Rule 14a-8.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses