Perion Network Ltd. Announces $50 Million Share Repurchase Program
Ticker: PERI · Form: 6-K · Filed: Feb 20, 2024 · CIK: 1338940
Sentiment: bullish
Topics: share-repurchase, corporate-action, investor-relations
TL;DR
**Perion just announced a $50 million share buyback program!**
AI Summary
On February 20, 2024, Perion Network Ltd. (Perion) announced the adoption of a share repurchase program, authorizing the company to buy back up to $50 million of its ordinary shares. This program allows Perion to repurchase shares on the open market or through privately negotiated transactions, with the timing and amount of repurchases determined by market conditions and other factors. The company, a foreign private issuer, filed this information with the SEC under Form 6-K.
Why It Matters
This share repurchase program could signal management's confidence in Perion's valuation and future prospects, potentially boosting shareholder value by reducing the number of outstanding shares.
Risk Assessment
Risk Level: low — A share repurchase program is generally seen as a positive or neutral event for shareholders, indicating financial health and a commitment to returning value.
Key Numbers
- $50M — Share Repurchase Program (Amount authorized for share repurchases)
Key Players & Entities
- Perion Network Ltd. (company) — Registrant announcing share repurchase program
- $50 Million (dollar_amount) — Maximum value of the share repurchase program
- February 20, 2024 (date) — Date of the press release and filing
FAQ
What is the purpose of this 6-K filing by Perion Network Ltd.?
The 6-K filing by Perion Network Ltd. is to report the adoption of a share repurchase program of up to $50 million, as detailed in a press release issued on February 20, 2024.
What is the maximum value of the share repurchase program announced by Perion?
Perion Network Ltd. has adopted a share repurchase program of up to $50 million.
When was the press release regarding the share repurchase program issued?
The press release titled "Perion Adopts a Share Repurchase Program of up to $50 Million" was issued on February 20, 2024.
What is Perion Network Ltd.'s Commission File Number?
Perion Network Ltd.'s Commission File Number is 000-51694.
Is Perion Network Ltd. a foreign private issuer?
Yes, Perion Network Ltd. is a foreign private issuer, as indicated by its filing under Form 6-K and its address in Holon, Israel.
Filing Stats: 185 words · 1 min read · ~1 pages · Grade level 10.4 · Accepted 2024-02-20 06:05:38
Key Financial Figures
- $50 Million — pts a Share Repurchase Program of up to $50 Million". A copy of this press release is furni
Filing Documents
- zk2431019.htm (6-K) — 8KB
- exhibit_99-1.htm (EX-99.1) — 8KB
- image00001.jpg (GRAPHIC) — 3KB
- 0001178913-24-000642.txt ( ) — 22KB
From the Filing
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 For the month of February 2024 Commission File Number: 000-51694 Perion Network Ltd. (Translation of registrant's name into English) 1 Azrieli Center, Building A, 4th Floor 26 HaRokmim Street, Holon, Israel 5885849 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F Explanatory Note On February 20, 2024, Perion Network Ltd. (the " Registrant " or " Perion ") issued a press release titled "Perion Adopts a Share Repurchase Program of up to $50 Million". A copy of this press release is furnished as Exhibit 99.1 herewith. Signature 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. PERION NETWORK LTD. By: /s/ Maoz Sigron Name: Maoz Sigron Title: Chief Financial Officer Date: February 20, 2024