Perion Network to Affect a Reverse Stock Split on August 24, 2018
Aug. 23, 2018
TEL AVIV, Israel & NEW YORK--(BUSINESS WIRE)--Aug 23, 2018--Perion Network Ltd. (NASDAQ:PERI), a global innovator in delivering digital marketing solutions for brands that are relentlessly focused on their consumer relationships, announced on August 9 th, following the approval of Perion’s shareholders, that Perion will affect a reverse split of Perion’s ordinary shares at the ratio of 3:1, such that each three ordinary shares, par value NIS 0.01 per share, shall be consolidated into one ordinary share, par value NIS 0.03 (the “ Reverse Split ”). The record date for determining which holders of Perion’s ordinary shares will have their holdings adjusted as a result of the reverse share split will be the close of business on Friday, August 24, 2018.
The first date when Perion’s ordinary shares will begin trading on the Tel Aviv Stock Exchange Ltd. (“TASE”) after implementation of the Reverse Split will be Sunday, August 26, 2018.
The first date when the Perion’s ordinary shares will begin trading on the NASDAQ Global Select Market after implementation of the Reverse Split will be Monday, August 27, 2018.
About Perion Network Ltd.
Perion is a global technology company that delivers advertising solutions to brands and publishers. Perion is committed to providing data-driven execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform. More information about Perion may be found at www.perion.com, and follow Perion on Twitter @perionnetwork.
Forward Looking Statements
This press release contains historical information and forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 with respect to the business, financial condition and results of operations of Perion. The words “will”, “believe,” “expect,” “intend,” “plan,” “should” and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views, assumptions and expectations of Perion with respect to future events and are subject to risks and uncertainties. Many factors could cause the actual results, performance or achievements of Perion to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, or financial information, including, among others, the failure to realize the anticipated benefits of companies and businesses we acquired and may acquire in the future, risks entailed in integrating the companies and businesses we acquire, including employee retention and customer acceptance; the risk that such transactions will divert management and other resources from the ongoing operations of the business or otherwise disrupt the conduct of those businesses, potential litigation associated with such transactions, and general risks associated with the business of Perion including intense and frequent changes in the markets in which the businesses operate and in general economic and business conditions, loss of key customers, unpredictable sales cycles, competitive pressures, market acceptance of new products, inability to meet efficiency and cost reduction objectives, changes in business strategy and various other factors, whether referenced or not referenced in this press release. Various other risks and uncertainties may affect Perion and its results of operations, as described in reports filed by Perion with the Securities and Exchange Commission from time to time, including its annual report on Form 20-F for the year ended December 31, 2017 filed with the SEC on March 27, 2018. Perion does not assume any obligation to update these forward-looking statements.
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CONTACT: Perion Network Ltd.
+972 (73) 398-1000
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK MIDDLE EAST ISRAEL
INDUSTRY KEYWORD: TECHNOLOGY NETWORKS SOFTWARE PROFESSIONAL SERVICES FINANCE COMMUNICATIONS ADVERTISING
SOURCE: Perion Network Ltd.
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PUB: 08/23/2018 04:00 PM/DISC: 08/23/2018 04:01 PM