Formula Systems Extends Shelf Prospectus by 12 Months
Ticker: FORTY · Form: 6-K · Filed: Sep 9, 2024 · CIK: 1045986
| Field | Detail |
|---|---|
| Company | Formula Systems (1985) Ltd (FORTY) |
| Form Type | 6-K |
| Filed Date | Sep 9, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 1 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: shelf-prospectus, regulatory-approval, extension
TL;DR
Formula Systems got the green light to keep its 2022 shelf prospectus active for another year.
AI Summary
On September 9, 2024, Formula Systems (1985) Ltd. announced it received approval from the Israeli Securities Authority to extend its Israeli shelf prospectus, originally filed on September 21, 2022, for an additional 12 months. This extension allows the company to continue offering securities under the existing prospectus.
Why It Matters
This extension provides Formula Systems with continued flexibility to access capital markets for potential future funding needs without needing to file a new prospectus immediately.
Risk Assessment
Risk Level: low — The filing is a routine administrative update regarding an existing prospectus, not a significant event impacting the company's operations or financial health.
Key Numbers
- 12-month — Prospectus Extension (Duration of the approved extension)
Key Players & Entities
- Formula Systems (1985) Ltd. (company) — Registrant
- Israeli Securities Authority (company) — Approving body
- September 9, 2024 (date) — Announcement date
- September 21, 2022 (date) — Original prospectus filing date
FAQ
What is the purpose of the Israeli shelf prospectus?
The Israeli shelf prospectus allows Formula Systems to offer securities over a period of time without needing to file a new registration statement for each offering.
What action did Formula Systems announce on September 9, 2024?
Formula Systems announced that it received approval from the Israeli Securities Authority to extend its existing Israeli shelf prospectus.
When was the original Israeli shelf prospectus filed?
The original Israeli shelf prospectus was filed on September 21, 2022.
What is the duration of the extension granted by the Israeli Securities Authority?
The Israeli Securities Authority granted a 12-month extension to the term of the shelf prospectus.
Does this filing indicate a new offering of securities?
No, this filing only announces the extension of an existing shelf prospectus, not a specific new offering.
Filing Stats: 246 words · 1 min read · ~1 pages · Grade level 12.8 · Accepted 2024-09-09 12:20:22
Filing Documents
- ea0213921-6k_formula.htm (6-K) — 11KB
- ea021392101ex99-1_formula.htm (EX-99.1 CHARTER) — 5KB
- ex99-1_001.jpg (GRAPHIC) — 3KB
- 0001045986-24-000009.txt ( ) — 21KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. FORMULA SYSTEMS (1985) LTD. By: /s/ Asaf Berenstin Name: Asaf Berenstin Title: Chief Financial Officer Date: September 9, 2024 2 EXHIBIT INDEX EXHIBIT NUMBER DESCRIPTION 99.1 Formula Systems Announces Extension of September 2022 Shelf Prospectus 3