NEW
YORK, July 5, 2023 /PRNewswire/ -- Innovid Corp.
(NYSE:CTV) (the "Company"), an independent advertising platform for
delivery, personalization, and measurement of converged TV across
linear, connected TV (CTV) and digital, today announced that, based
on a notification letter the Company received from the New York
Stock Exchange (the "NYSE") on July 3,
2023, the Company has regained compliance with the NYSE's
continued listing standards for minimum share price under Section
802.01C of the NYSE Listing Company Manual.
On May 18, 2023, NYSE had notified
Innovid that it was not in compliance with the NYSE's continued
listing standards because the average closing price of the
Company's common stock was less than $1.00 per share over a 30 trading-day period.
On July 3, 2023, the Company
received a confirmation from the NYSE that, as of June 30, 2023, the Company's average stock
price had a closing share price of at least $1.00 and had maintained an average closing share
price of at least $1.00 over the 30
trading-day period ending on that date. Accordingly, the Company's
shares are no longer considered to be below the minimum share price
requirement of Section 802.01C and, a result, the Company has
regained compliance with the NYSE continued listing standards and
will continue to be traded on the NYSE.
About Innovid
Innovid (NYSE: CTV) powers advertising delivery,
personalization, measurement, and outcomes across linear, connected
TV (CTV) and digital for the world's largest brands. Through a
global infrastructure that enables cross-platform ad serving,
data-driven creative, and measurement, Innovid offers its clients
always-on intelligence to optimize advertising investment across
channels, platforms, screens, and devices. Innovid is an
independent platform that leads the market in converged TV
innovation, through proprietary technology and exclusive
partnerships designed to reimagine TV advertising. Headquartered in
New York City, Innovid serves a
global client base through offices across the Americas,
Europe, and Asia Pacific.
To learn more, visit innovid.com or follow us on LinkedIn or
Twitter.
Forward Looking Statements
This press release includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1996. The Company's actual
results may differ from its expectations, estimates and projections
and consequently, you should not rely on these forward-looking
statements as predictions of future events. Words such as "expect,"
"estimate," "project," "budget," "forecast," "anticipate,"
"intend," "plan," "may," "will," "could," "should," "believes,"
"predicts," "potential," "continue," "aim," and similar expressions
are intended to identify such forward-looking statements. These
forward-looking statements include, without limitation, the
Company's expectations regarding its future financial results and
expected growth. These forward-looking statements involve
significant risks and uncertainties that could cause the actual
results to differ materially from the expected results, including
Innovid's ability to raise financing in the future, success in
retaining or recruiting officers, key employees or directors,
changes in applicable laws or regulations, Innovid's ability to
maintain and expand relationships with advertisers, decreases
and/or changes in CTV audience viewership behavior, Innovid's
ability to make the right investment decisions and to innovate and
develop new solutions, the accuracy of Innovid's estimates of
market opportunity, forecasts of market growth and projections of
future financial performance, the extent of investment required in
Innovid's sales and marketing efforts, Innovid's ability to
effectively manage its growth, the impact of the Covid19 pandemic,
the risk of continued inflation and other macroeconomic events,
acquisition related risks, and other important factors discussed
under the caption "Risk Factors" in Innovid's Annual Report on Form
10-K filed with the SEC on March 18,
2022, as such factors may be updated from time to time in
its other filings with the SEC, accessible on the SEC's website at
www.sec.gov and the Investors Relations section of Innovid's
website at investors.innovid.com. Most of these factors are outside
the Company's control and are difficult to predict. The Company
cautions not to place undue reliance upon any forward looking
statements, including projections, which speak only as of the date
made. The Company does not undertake or accept any obligation to
release publicly any updates or revisions to any forward-looking
statements to reflect any change in its expectations or any change
in events, conditions or circumstances on which any such statement
is based.
Contacts
Investors:
IR@innovid.com
Media:
Caroline Yodice
cyodice@daddibrand.com
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