AppLovin Corporation Enters into Amendment No.6 to Credit Agreement
October 29, 2021 at 04:08 pm EDT
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On October?25, 2021, AppLovin Corporation (?AppLovin?) entered into Amendment No.?6 (?Amendment No.?6?), 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 and Amendment No.?5 to the Credit Agreement, dated as of February?12, 2021 (the ?Credit Agreement?; and as amended by Amendment No.?6, the ?Amended Credit Agreement?). Pursuant to Amendment No.?6 and the Amended Credit Agreement, certain additional lenders agreed to provide incremental loans in an aggregate amount of $1.5?billion (such incremental loans, the ?Amendment No.?6 New Term Loans?). The Amendment No.?6 New Term Loans have (a)?a maturity date of October?25, 2028 (or if not a business day, the immediately preceding business day), (b) a floor on LIBOR Loans of 50 basis points, and (c)?an applicable margin for LIBOR Loans equal to 3.00% (or 2.00% for ABR Loans), in each case, subject to and in accordance with the terms and conditions of the Amended Credit Agreement. Except as set forth in Amendment No.?6 and the Amended Credit Agreement, the other terms and conditions of the Amendment No.?6 New Term Loans are consistent with the term loans outstanding immediately prior to the effectiveness of Amendment No.?6.
AppLovin Corporation provides application technology platform, AppLovin. The Company operates through two segments: Software Platform, and Apps. Its Software Platform is primarily made up of four key solutions, such as AppDiscovery, MAX, Adjust, and Wurl. AppDiscovery is powered by AXON, its AI-powered advertising engine, and matches advertiser demand with publisher supply through auctions at vast scale and at microsecond-level speeds. MAX is a monetization solution, utilizing an advanced in-app bidding technology that optimizes the value of a publishers advertising inventory by running a real-time competitive auction. Adjust is a measurement and analytics marketing platform which provides marketers with the visibility, insights, and data needed to scale their apps marketing results. Wurl is connected TV (CTV) platform that both distributes streaming video for content companies and provides advanced advertising and publishing solutions to attract viewers and maximize revenue.