Wix.com Completes $225 Million Share Repurchase Program

TL;DR

WIX just finished buying back $225M in stock.

AI Summary

On May 28, 2024, Wix.com Ltd. announced the completion of its previously announced $225 million share repurchase program. This program was initiated to return capital to shareholders and manage its equity.

Why It Matters

The completion of this buyback program indicates Wix's commitment to returning value to its shareholders and potentially signals confidence in the company's stock valuation.

Risk Assessment

Risk Level: low — This filing is a routine announcement of a completed share repurchase program, which is a common corporate action.

Key Numbers

• $225 million — Share Repurchase Program (The total amount Wix.com Ltd. spent to repurchase its own shares.)

Key Players & Entities

• Wix.com Ltd. (company) — The company announcing the completion of the share repurchase program.
• $225 million (dollar_amount) — The total value of the completed share repurchase program.
• May 28, 2024 (date) — The date Wix.com Ltd. announced the completion of the program.
• NASDAQ: WIX (company) — The stock ticker for Wix.com Ltd.

FAQ

From the Filing

0001576789-24-000015.txt : 20240528 0001576789-24-000015.hdr.sgml : 20240528 20240528100833 ACCESSION NUMBER: 0001576789-24-000015 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240528 FILED AS OF DATE: 20240528 DATE AS OF CHANGE: 20240528 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: 24987273 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-6xkxcompletionof225mil.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 May 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 May 28, 2024, Wix.com Ltd. (NASDAQ: WIX) issued a press release titled “Wix Announces Completion of $225 Million Share Repurchase Program”. 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: May 28, 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 May 28, 2024 titled “Wix Announces Completion of $225 Million Share Repurchase Program” . EX-99.1 2 pr-completionof225millions.htm EX-99.1 Document Exhibit 99.1 Wix Announces Completion of $225 Million Share Repurchase Program NEW YORK, May 28, 2024 -- Wix.com Ltd. (Nasdaq: WIX ), today announced that it has completed $225 million in share repurchases, which were part of the authorization by its Board of Directors approved in August 2023. The Company repurchased 1,676,623 outstanding Wix ordinary shares, representing approximately 3% of total shares outstanding, at an approximate volume-weighted average price per share of $134.20. About Wix.com Ltd. Wix is the leading SaaS website builder platform globally to create, manage and grow a digital presence. What began as a website builder in 2006 is now a complete platform providing users with enterprise-grade performance, security and a reliable infrastructure. Offering a wide range of commerce and business solutions, advanced SEO and marketing tools, Wix enables users to take full ownership of their brand, their data and their relationships with their customers. With a focus on continuous innovation and delivery of new features and products, anyone can build a powerful digital presence to fulfill their dreams on Wix. For more about Wix, please visit our https://www.wix.com/press-room/home . Investor Relations: ir@wix.com Media Relations: pr@wix.com