SANTA BARBARA, Calif., July 8, 2015 (GLOBE NEWSWIRE) -- AppFolio, Inc. (NASDAQ:APPF) today announced that, in connection with its initial public offering of Class A common stock, which closed on June 30, 2015, the underwriters have exercised their over-allotment option in full to purchase an additional 930,000 shares of Class A common stock from the Company at a price of $12.00 per share. As a result of the exercise and closing of the over-allotment option, the aggregate net proceeds to the Company from the initial public offering, after deducting underwriting discounts and commissions and estimated offering expenses, is approximately $76.0 million.

Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC acted as joint book-running managers for the offering. Pacific Crest Securities, a division of KeyBanc Capital Markets Inc., and William Blair & Company, L.L.C. acted as co-managers for the offering.

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering was made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2 nd Floor, New York, NY 10014; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, by telephone: 800-221-1037, or by email:
CONTACT: Investor Relations Contact         Ida Kane, CFO,, (805) 364-6093

AppFolio, Inc.