Perion Receives Nasdaq Letter Regarding Bid Price Compliance
April 02 2018 - 7:00AM
Business Wire
Perion Network Ltd. (NASDAQ: PERI) (the “Company”), a global
technology leader in advertising solutions for brands and
publishers, today announced that it received a letter from NASDAQ
indicating that the Company is not in compliance with the minimum
bid price requirement for continued listing set forth in Listing
Rule 5450(a)(1) which requires listed securities to maintain a
minimum bid price of $1.00 per share for 30 consecutive business
days.
The NASDAQ notice has no immediate effect on the listing or
trading of the Company’s shares on the NASDAQ Stock Market.
According to the letter from NASDAQ, the Company has a grace
period of 180 calendar days, ending on September 24, 2018, to
regain compliance with the minimum bid price requirement. The
Company can regain compliance if, at any time before the grace
period ends, the bid price of its ordinary shares closes at or
above $1.00 per share for a minimum of ten (10) consecutive
business days. If the Company cannot demonstrate bid price
compliance by the end of the 180-day grace period, the Company may
become eligible for an additional 180-day grace period if the
Company meets the continued listing requirement for market value of
publicly held shares and all other initial listing standards for
The Nasdaq Global Select Market, with the exception of the bid
price requirement.
About Perion Network Ltd.
Perion is a global technology company that delivers advertising
solutions to brands and publishers. Perion is committed to
providing data-driven execution, from high-impact ad formats to
branded search and a unified social and mobile programmatic
platform. More information about Perion may be found at
www.perion.com, and follow Perion on Twitter @perionnetwork.
Forward Looking Statements
This press release contains historical information and
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995 with respect to the
business, financial condition and results of operations of Perion.
The words “will”, “believe,” “expect,” “intend,” “plan,” “should”
and similar expressions are intended to identify forward-looking
statements. Such statements reflect the current views, assumptions
and expectations of Perion with respect to future events and are
subject to risks and uncertainties. Many factors could cause the
actual results, performance or achievements of Perion to be
materially different from any future results, performance or
achievements that may be expressed or implied by such
forward-looking statements, or financial information, including,
among others, the failure to realize the anticipated benefits of
companies and businesses we acquired and may acquire in the future,
risks entailed in integrating the companies and businesses we
acquire, including employee retention and customer acceptance; the
risk that such transactions will divert management and other
resources from the ongoing operations of the business or otherwise
disrupt the conduct of those businesses, potential litigation
associated with such transactions, and general risks associated
with the business of Perion including intense and frequent changes
in the markets in which the businesses operate and in general
economic and business conditions, loss of key customers,
unpredictable sales cycles, competitive pressures, market
acceptance of new products, inability to meet efficiency and cost
reduction objectives, changes in business strategy and various
other factors, whether referenced or not referenced in this press
release. Various other risks and uncertainties may affect Perion
and its results of operations, as described in reports filed by the
Company with the Securities and Exchange Commission from time to
time, including its annual report on Form 20-F for the year ended
December 31, 2017 filed with the SEC on March 27, 2018. Perion does
not assume any obligation to update these forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20180402005418/en/
Perion Network Ltd.Investor relationsHila Valdman, +972
(73) 398-1000Perion.Investor.Relations@perion.com
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