Perion Network Ltd. Announces Launch of Proposed Follow-on Offering of Ordinary Shares
January 19 2021 - 4:01PM
Business Wire
Perion Network Ltd. (NASDAQ: PERI), a global advertising
technology company that delivers its Synchronized Digital Branding
solution across the three main pillars of digital advertising – ad
search, social media and display / video / CTV advertising – today
announced that it has launched a proposed follow-on public offering
of approximately $50 million of its ordinary shares. The ordinary
shares are being offered by the Company pursuant to an effective
shelf registration statement on file with the Securities and
Exchange Commission (the “SEC”). In connection with the offering,
the Company expects to grant the underwriters a 30-day option to
purchase additional ordinary shares to be sold in the offering on
the same terms and conditions.
Perion’s ordinary shares are listed on the Nasdaq Global Select
Market and TASE under the ticker symbols “PERI” and “PERI.TA”,
respectively.
Oppenheimer & Co. Inc. and Stifel, Nicolaus & Company,
Incorporated are acting as joint book-running managers in this
offering. Roth Capital Partners and Lake Street Capital Markets,
LLC are acting as co-managers. Needham & Co. is serving as an
advisor of the Company.
Perion intends to use the net proceeds from the offering as
additional working capital, for funding the growth of its business,
including potentially, funding any merger or acquisition
opportunities that may arise with companies that have products,
services and technologies that are complementary to its business,
and for general corporate purposes.
A shelf registration statement relating to the ordinary shares
to be issued in the proposed offering was filed with the SEC and is
effective. A prospectus supplement and accompanying base prospectus
relating to and describing the final terms of the offering will be
available on the SEC’s website located at www.sec.gov or from
Oppenheimer & Co. Inc., Attention: Syndicate Prospectus
Department, 85 Broad Street, 26th Floor, New York, New York 10004,
by telephone at +1 (212) 667-8055, or by email at
EquityProspectus@opco.com; Stifel, Nicolaus & Company,
Incorporated, Attention: Prospectus Department, One Montgomery
Street, Suite 3700, San Francisco, California 94101, by telephone
at +1 (415) 364-2720, or by email at syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Perion Network Ltd.
Perion is a global technology company that delivers strategic
business solutions that enable brands and advertisers to
efficiently and successfully “Capture and Convince” users across
multiple platforms and channels, including interactive connected
television – or iCTV. Perion achieves this through its Synchronized
Digital Branding capabilities, which are focused on high impact
creative; content monetization; its branded search network, in
partnership with Microsoft Bing; and social media management that
orchestrates and optimizes paid advertising. This diversification
positions Perion for growth as budgets shift across categories.
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version on businesswire.com: https://www.businesswire.com/news/home/20210119006065/en/
Perion Network Ltd. Rami Rozen, VP of Investor Relations
+972 (52) 5694441 ramir@perion.com
Perion Network (NASDAQ:PERI)
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