NEW YORK, NY, April 11, 2024 — 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.