Liftoff Mobile Inc. (NASDAQ: LFTO) completed its initial public offering, selling 21.85 million shares at $23 per share, the company announced. The offering included the full exercise of underwriters' option to purchase an additional 2.85 million shares.

The mobile app marketing company raised approximately $502.6 million in gross proceeds from the offering. Liftoff plans to use the net proceeds to repay outstanding debt under its senior secured term loan facility, with remaining funds allocated for general corporate purposes.

Goldman Sachs, Jefferies and Morgan Stanley served as joint lead book-running managers for the offering. Additional book-running managers included Barclays, RBC Capital Markets, UBS Investment Bank, Wells Fargo Securities, William Blair, Cantor, Deutsche Bank Securities, PJT Partners, Wolfe | Nomura Alliance, BTIG, Needham & Company and Raymond James.

The Securities and Exchange Commission declared the registration statement effective on June 3, 2026. Liftoff's common stock trades on the Nasdaq Global Select Market under the ticker symbol "LFTO."

Liftoff operates an AI-powered platform called Cortex that provides marketing, creative and monetization services for mobile app developers. The company was founded in 2012 and is headquartered in Redwood City, California.