Nexxen Completes Stock Exchange and Trading Structure Changes
19 February 2025 - 12:30AM
Nexxen International Ltd. (NASDAQ: NEXN) (“Nexxen” or the
“Company”), a global, flexible advertising technology platform with
deep expertise in data and advanced TV, today announces it has
completed its previously announced stock exchange and trading
structure changes, streamlining to a full and sole U.S. Ordinary
Share listing on The Nasdaq Stock Market effective today.
On Friday, February 14, 2025, the Company
successfully executed a reverse split of its Ordinary Shares such
that every two Ordinary Shares held at the time of the reverse
split consolidated into one New Ordinary Share to facilitate a
one-to-one ADR exchange. Thereafter, the Company exchanged its
Nasdaq-listed ADRs for Nasdaq-listed New Ordinary Shares and
terminated its ADR facility.
On Monday, February 17, 2025, the Company’s
AIM-listed Depository Interests representing the Company’s Ordinary
Shares were cancelled from admission to trading on AIM.
Effective this morning (Tuesday, February, 18,
2025) Nexxen’s New Ordinary Shares began trading on Nasdaq under
the stock ticker “NEXN” (ISIN: IL0012165630 and CUSIP:
M8T80P204).
Shareholders who desire to sell their New
Ordinary Shares on Nasdaq should work with their broker to transact
the sale.
Nexxen’s $50 million Ordinary Share repurchase
program will continue on Nasdaq following the Company’s delisting
from AIM and is currently expected to continue until May 19, 2025,
or completion.
“We believe our evolved trading structure will
strengthen our ability to attract U.S. investors, drive greater
trading volume, enable a more direct comparison to the Company’s
peers, improve our screening on financial data platforms and make
Nexxen’s shares eligible for inclusion in select indices,” said
Ofer Druker, Chief Executive Officer of Nexxen. “We believe these
changes will benefit Nexxen and its shareholders tremendously over
the long-term and we are excited to increase our presence and
recognition within the U.S. market.”
About Nexxen
Nexxen empowers advertisers, agencies,
publishers and broadcasters around the world to utilize data and
advanced TV in the ways that are most meaningful to them. Our
flexible and unified technology stack comprises a demand-side
platform (“DSP”) and supply-side platform (“SSP”), with the Nexxen
Data Platform at its core. With streaming in our DNA, Nexxen’s
robust capabilities span discovery, planning, activation,
monetization, measurement and optimization – available individually
or in combination – all designed to enable our partners to achieve
their goals, no matter how far-reaching or hyper niche they may
be.
Nexxen is headquartered in Israel and maintains
offices throughout the United States, Canada, Europe and
Asia-Pacific, and is traded on Nasdaq (NEXN). For more information,
visit www.nexxen.com.
For further information please contact:
Nexxen International Ltd.Billy Eckert, Vice
President of Investor Relationsir@nexxen.com
Caroline Smith, Vice President of
Communicationscsmith@nexxen.com
Forward-Looking Statements
This press release contains forward-looking
statements, including forward-looking statements within the meaning
of Section 27A of the United States Securities Act of 1933, as
amended, and Section 21E of the United States Securities and
Exchange Act of 1934, as amended. Forward-looking statements are
identified by words such as “anticipates,” “believes,” “expects,”
“intends,” “may,” “can,” “will,” “estimates,” and other similar
expressions. However, these words are not the only way Nexxen
identifies 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 anticipated benefits of the
Company’s ADR exchange and termination, reverse split, AIM
delisting and sole-listing on Nasdaq. These statements are neither
promises nor guarantees but involve known and unknown risks,
uncertainties and other important factors that may cause Nexxen’s
actual results, performance or achievements to be materially
different from its expectations expressed or implied by the
forward-looking statements, including, but not limited to, the
following: that the anticipated benefits of the sole-listing on
Nasdaq won’t be achieved in full or at all, or in the time frame
expected; negative global economic conditions; global conflicts and
war, including the war and hostilities between Israel and Hamas,
Hezbollah and Iran, and how those conditions may adversely impact
Nexxen’s business, customers and the markets in which Nexxen
competes; changes in industry trends; and, other negative
developments in Nexxen’s business or unfavourable legislative or
regulatory developments. Nexxen cautions you not to place undue
reliance on these forward-looking statements. For a more detailed
discussion of these factors, and other factors that could cause
actual results to vary materially, interested parties should review
the risk factors listed in the Company’s most recent Annual Report
on Form 20-F, filed with the U.S. Securities and Exchange
Commission (www.sec.gov) on March 6, 2024. Any forward-looking
statements made by Nexxen in this press release speak only as of
the date of this press release, and Nexxen does not intend to
update these forward-looking statements after the date of this
press release, except as required by law.
Nexxen, and the Nexxen logo are trademarks of
Nexxen International Ltd. in the United States and other countries.
All other trademarks are the property of their respective owners.
The use of the word “partner” or “partnership” in this press
release does not mean a legal partner or legal partnership.
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