Wix Completes $300M Share Buyback Program

TL;DR

**WIX just finished its $300M share buyback, signaling strong financial health and a potential boost for shareholders!**

AI Summary

On February 15, 2024, Wix.com Ltd. (NASDAQ: WIX) announced the completion of its $300 million share repurchase program. This significant capital allocation was detailed in a press release titled "Wix Announces Completion of $300 Million Share Repurchases," which was attached as Exhibit 99.1 to the company's Form 6-K filing.

Why It Matters

The completion of a substantial share repurchase program can signal management's confidence in the company's valuation and financial health, potentially boosting earnings per share and shareholder value by reducing the number of outstanding shares.

Risk Assessment

Risk Level: low — The completion of a share repurchase program is generally viewed as a positive corporate action, indicating financial stability and a commitment to returning capital to shareholders, thus posing low risk.

Key Numbers

• $300M — Share Repurchase Program (Total value of shares repurchased by Wix.com Ltd.)

Key Players & Entities

• Wix.com Ltd. (company) — registrant
• NASDAQ (company) — stock exchange
• $300 Million (dollar_amount) — value of share repurchases
• United States Securities and Exchange Commission (company) — regulatory body

FAQ

From the Filing

0001576789-24-000003.txt : 20240215 0001576789-24-000003.hdr.sgml : 20240215 20240215090633 ACCESSION NUMBER: 0001576789-24-000003 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240215 FILED AS OF DATE: 20240215 DATE AS OF CHANGE: 20240215 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Wix.com Ltd. CENTRAL INDEX KEY: 0001576789 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] ORGANIZATION NAME: 06 Technology IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36158 FILM NUMBER: 24642372 BUSINESS ADDRESS: STREET 1: 5 YUNITSMAN ST. CITY: TEL AVIV STATE: L3 ZIP: 000000 BUSINESS PHONE: 97235454900 MAIL ADDRESS: STREET 1: 5 YUNITSMAN ST. CITY: TEL AVIV STATE: L3 ZIP: 000000 FORMER COMPANY: FORMER CONFORMED NAME: Wixpress Ltd. DATE OF NAME CHANGE: 20130513 6-K 1 wix-6xkxprxcompletionof300.htm 6-K Document 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 of the Securities Exchange Act of 1934 For the month of February 2024 Commission File Number: 001-36158 Wix.com Ltd. (Translation of registrant’s name into English) 5 Yunitsman St., Tel Aviv, Israel, 6936025 (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 15, 2024, Wix.com Ltd. (NASDAQ: WIX) (the “ Company ”) issued a press release titled “Wix Announces Completion of $300 Million Share Repurchases”. A copy of this press release is attached to this Form 6-K as Exhibit 99.1 . 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. Date: February 15, 2024 WIX.COM LTD. By:     /s/ Naama Kaenan Name:     Naama Kaenan Title:     General Counsel EXHIBIT INDEX The following exhibit is filed as part of this Form 6-K: Exhibit Description 99.1 Press release dated February 1 5 , 2024 titled “Wix Announces Completion of $300 Million Share Repurchase s ”. EX-99.1 2 pr-completionof300millions.htm EX-99.1 Document Wix Announces Completion of $300 Million in Share Repurchases NEW YORK, February 15, 2024 -- Wix.com Ltd. (Nasdaq: WIX ), today announced that it has completed $300 million in share repurchases, which received court approval in December 2023 and is part of the authorization by its Board of Directors approved in August 2023. The Company repurchased 2,401,695 outstanding Wix ordinary shares, representing approximately 4% of total shares outstanding, at an approximate volume-weighted average price per share of $124.91. Pursuant to its Board of Directors’ authorization of share repurchases of 50% of projected free cash flow through 2025 (excluding costs associated with the Company’s new headquarters office build out), Wix is in the process of pursuing the necessary approvals for $225 million in additional share repurchases. About Wix.com Ltd. Wix is the leading SaaS website builder platform to create, manage, and grow a global, digital presence. What began as a website builder in 2006 is now a complete platform providing self-creators, agencies, and enterprises, with distinguished performance, security, and a reliable infrastructure. With a focus on continuous innovation, a wide range of commerce and business solutions, advanced SEO, marketing tools, and industry-leading AI technologies, Wix users have full ownership of their brand and unmatched creative freedom. Complimenting the Wix platform for self-creators, Wix Studio is an advanced creat