Perion Network Launches Proposed Follow-on Offering of Ordinary Shares to Fund Continued Growth
December 08 2021 - 4:34PM
Business Wire
Perion Network Ltd. (NASDAQ: PERI), a global advertising
technology company that delivers holistic solutions 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
$100.0 million of its ordinary shares. 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 intends to use
the net proceeds from the offering 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,
as well as for additional working capital and for general corporate
purposes.
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., Stifel, Nicolaus &
Company, Incorporated and Raymond James & Associates, Inc. are
acting as 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.
The offering is being made pursuant to an automatically
effective shelf registration statement on Form F-3 filed with the
U.S. Securities and Exchange Commission on December 8, 2021. The
offering may be made only by means of a base prospectus and a
related prospectus supplement, copies of which will be available on
the SEC’s website located at www.sec.gov or may be obtained 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; or
Raymond James & Associates, Inc., 880 Carillon Parkway, St.
Petersburg, FL 33716, email: prospectus@raymondjames.com,
telephone: 800-248-8863. 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 holistic
strategic business solutions that enable brands and advertisers to
efficiently “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.
Source: Perion Network Ltd.
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version on businesswire.com: https://www.businesswire.com/news/home/20211208006068/en/
Perion Network Ltd. Rami Rozen, VP of Investor Relations
+972 (52) 5694441 ramir@perion.com
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