Wix Announces $200 Million Increase to Share Repurchase Program

Core Viewpoint - Wix.com Ltd. has authorized an increase in its securities repurchase program by an additional $200 million, bringing the total potential repurchase amount to $500 million, subject to legal and market conditions [1][2]. Group 1: Repurchase Program Details - The repurchase program now totals up to $500 million, which includes a previously authorized $400 million, of which $100 million has already been utilized [1]. - Since the beginning of 2025, the company has repurchased $300 million of its ordinary shares [1]. - The repurchase may occur through various methods, including open market purchases and privately negotiated transactions, in compliance with U.S. securities laws [2]. Group 2: Conditions and Factors Influencing Repurchase - The initiation of the $200 million increase in the repurchase program is contingent upon satisfying Israeli law requirements and a 30-day period for creditors to object [2]. - The actual timing, number, and value of securities repurchased will depend on factors such as market price, capital availability, economic conditions, and the company's financial results [2]. Group 3: Company Overview - Wix is a leading global platform for creating and managing digital presences, founded in 2006, serving millions of users including self-creators and enterprises [3]. - The platform combines advanced AI, flexible design, and robust business solutions to help users build brands and scale their businesses online [3].