Fiverr Approves Up to $100M Share Buyback Program
Ticker: FVRR · Form: 6-K · Filed: Apr 3, 2024 · CIK: 1762301
Sentiment: bullish
Topics: share-buyback, board-approval, capital-return
TL;DR
Fiverr is buying back up to $100M in stock, signaling confidence.
AI Summary
On April 1, 2024, Fiverr International Ltd. announced a share repurchase program, referred to as a "distribution" under Israeli law, with a total amount of up to $100,000,000. This decision was approved by the Company's Board of Directors.
Why It Matters
This significant share buyback indicates management's confidence in the company's valuation and can potentially increase shareholder value by reducing the number of outstanding shares.
Risk Assessment
Risk Level: low — The filing is a routine announcement of a board-approved share repurchase program, which is a common corporate action.
Key Numbers
- $100.0B — Share Repurchase Authorization (Maximum amount the company is authorized to spend on buying back its own shares.)
Key Players & Entities
- Fiverr International Ltd. (company) — The company announcing the share repurchase.
- $100,000,000 (dollar_amount) — The maximum amount authorized for the share repurchase program.
- April 1, 2024 (date) — The date the board of directors approved the share repurchase.
FAQ
What is the total amount approved for the share repurchase program?
The total amount approved for the share repurchase program is up to $100,000,000.
When was the share repurchase program approved?
The share repurchase program was approved on April 1, 2024.
Who approved the share repurchase program?
The board of directors of Fiverr International Ltd. approved the share repurchase program.
What is the term used in Israeli law for this type of transaction?
In Israeli law, this transaction is defined as a "distribution" by way of repurchase (buyback).
What is the filing form type?
The filing form type is a 6-K.
Filing Stats: 569 words · 2 min read · ~2 pages · Grade level 13.9 · Accepted 2024-04-03 06:00:48
Key Financial Figures
- $100,000,000 — inary shares in a total amount of up to $100,000,000 (the " Distribution "). According to
Filing Documents
- zk2431236.htm (6-K) — 13KB
- image0.jpg (GRAPHIC) — 32KB
- 0001178913-24-001202.txt ( ) — 59KB
Forward-Looking Statements
Forward-Looking Statements This Report on Form 6-K (the "Form 6-K") contains forward-looking statements. All statements contained in this Form 6-K that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the pending buyback plan. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from our expectations expressed or implied by the forward-looking statements, including without limitation the important factors discussed under the caption "Risk Factors" in our annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (" SEC ") on February 22, 2024, and our other reports filed with the SEC. Any such forward-looking statements represent management's estimates as of the date of this Form 6-K. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this Form 6-K.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Fiverr International Ltd. Date: April 3, 2024 By: /s/ Gurit Kainnan Vardi Name: Gurit Kainnan Vardi Title: EVP and General Counsel