NEW YORK, April 11, 2024 (GLOBE NEWSWIRE) — Fiverr International Ltd. (NYSE: FVRR), the company that is changing how the world works together, announced that on April 1, 2024, its Board of Directors has authorized a share repurchase program, under which the company may repurchase up to $100 million of its ordinary shares.
“We are pleased to announce the authorization of our first-ever stock repurchase program. This program reflects our confidence in the long-term opportunity for Fiverr and our commitment to creating shareholder value,” said Ofer Katz, Fiverr’s President and CFO. “We have built a healthy balance sheet enabling us to continue to invest in our strategic initiatives while also returning capital to shareholders. We believe that our current stock price represents an attractive opportunity for a repurchase.”
According to Israeli Law the company’s creditors may apply to the company and object to the share repurchase program until May 4, 2024, in which case, the share repurchase program will be subject to a court approval. In the event no such objection is filed, the share repurchase program will become effective.
Repurchases under the program may be made from time to time in the open market, including through trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in privately negotiated transactions or otherwise. The timing and amount of any share buybacks will be subject to market conditions and other factors determined by the company. The company may suspend, modify or discontinue buybacks at any time in its sole discretion without prior notice. This notice is neither an offer to purchase nor a solicitation of an offer to buy any securities.
About Fiverr
Fiverr’s mission is to change how the world works together. We exist to democratize access to talent and to provide talent with access to opportunities so anyone can grow their business, brand, or dreams. From small businesses to Fortune 500, over 4 million customers worldwide worked with freelance talent on Fiverr in the past year, ensuring their workforces remain flexible, adaptive, and agile. With Fiverr Business Solutions, large companies can find the right talent and tools, tailored to their needs to help them thrive and grow. On Fiverr, you can find over 700 skills, ranging from programming to 3D design, digital marketing to content creation, from video animation to architecture.
Don’t get left behind – come be a part of the future of work by visiting fiverr.com, read our blog and follow us on X, Instagram, and Facebook.
Investor Relations:
Jinjin Qian
investors@fiverr.com
Press:
Siobhan Aalders
press@fiverr.com
Forward-Looking Statements
This press release contains forward-looking statements. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the pending buyback plan and its anticipated benefits and our ability to return capital to shareholders.. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from our expectations expressed or implied by the forward-looking statements, including without limitation the important factors discussed under the caption “Risk Factors” in our annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on February 22, 2024, and our other reports filed with the SEC. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
Source: Fiverr International LTD.
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