Wix.com Ltd. Reports New Israeli Share Repurchase Regulations

TL;DR

Wix.com Ltd. (WIX) just announced new Israeli share repurchase rules are now in effect.

AI Summary

On March 18, 2024, Wix.com Ltd. announced that new Israeli repurchase regulations have taken effect. These regulations, related to the repurchase of company shares, are now in force. The company is providing this update as part of its ongoing reporting obligations.

Why It Matters

This filing informs investors about changes in Israeli regulations that could impact Wix.com's share repurchase activities and potentially its capital allocation strategy.

Risk Assessment

Risk Level: low — The filing is an informational update on regulatory changes and does not contain new financial performance data or significant operational news.

Key Players & Entities

• Wix.com Ltd. (company) — Registrant
• NASDAQ: WIX (company) — Stock Ticker
• March 18, 2024 (date) — Date of Press Release
• Israeli repurchase regulations (regulation) — Subject of the announcement

FAQ

From the Filing

0001178913-24-000972.txt : 20240318 0001178913-24-000972.hdr.sgml : 20240318 20240318100230 ACCESSION NUMBER: 0001178913-24-000972 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240318 FILED AS OF DATE: 20240318 DATE AS OF CHANGE: 20240318 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: 24757248 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 zk2431133.htm 6-K 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 March 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 March 18, 2024, Wix.com Ltd. (NASDAQ: WIX) issued a press release titled “Wix Announces Entry into Effect of New Israeli Repurchase Regulations”. 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: March 18, 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 March   18 , 2024 titled “ Wix Announces Entry into Effect of New Israeli Repurchase Regulations ”. EX-99.1 2 exhibit_99-1.htm EXHIBIT 99.1 Exhibit 99.1 Wix Announces Streamlined Approval Process for Share Repurchase Programs Following Amendments to Israeli Regulations   NEW YORK, March 18, 2024 -- Wix.com Ltd. (Nasdaq: WIX) (“Wix, “we,” “our” or the “Company”), today announced amendments to the Israeli Companies Regulations (Relief for Public Companies Whose Securities are Traded on Stock Exchanges Outside of Israel, 5760-2000), (the “ Relief Regulations ”) which eliminate, subject to certain conditions, the requirement to obtain mandatory Israeli court approval for share repurchases for companies that were otherwise required to obtain such approval. Companies are still subject to other necessary legal approvals outside of the previously mandatory Israeli court approval.   These Relief Regulations will streamline required regulatory approvals for share repurchases, allowing Wix to expedite its ability to begin execution of share repurchase activity.   As previously announced, Wix is in the process of pursuing the necessary approvals required under Israeli law, now under the new Relief Regulations, for $225 million in additional share repurchases, as authorized by the Board of Directors.   About Wix.com Ltd. Wix is the leading SaaS website builder platform to cr