Nexxen consolidates shares, shifts to Nasdaq listing

NEW YORK - Nexxen International Ltd. (NASDAQ:NEXN), an advertising technology company specializing in data and advanced TV, has completed a series of changes to its stock exchange and trading structure. The company, which executed a reverse stock split earlier this month, is now reminding shareholders of the adjustments and their implications.

On Monday, Nexxen executed a two-for-one reverse split of its Ordinary Shares, consolidating every two shares into one. This was followed by the exchange of the company’s Nasdaq-listed American Depositary Receipts (ADRs) for Ordinary Shares on a one-for-one basis, resulting in the termination of the ADR facility.

Subsequently, on February 17, Nexxen voluntarily withdrew its Ordinary Shares from trading on AIM, a market operated by the London Stock Exchange (LON:LSEG). The next day, these shares began trading on the Nasdaq Stock Market under the ticker NEXN.

The reverse split was designed to equalize the ratio between ADRs and Ordinary Shares to streamline the transition. The company has assured shareholders that the reverse split did not alter the total value of their holdings; the post-split share price reflected the pre-split ADR value. For example, an ADR worth $10.00 prior to the split was exchanged for an Ordinary Share also valued at $10.00.

Although the number of issued Ordinary Shares was halved, the value of each share doubled immediately following the reverse split. This action did not impact the shareholders’ proportionate ownership in Nexxen, as the percentage of the company each investor owned remained unchanged, adjusted only for the new share count.

For shareholders holding Depositary Interests (DIs), no action was required during the transition. Their previous DIs in CREST were automatically replaced with new DIs issued by Computershare Investor Services PLC. Shareholders wishing to sell their Ordinary Shares on Nasdaq were advised to work with their brokers to facilitate the sale.

Shareholders have been directed to review the Transaction (JO:TCPJ) FAQs in the circular published on November 15, 2024, and updated on February 6, 2025, for further details. The company has reported successful regular completion of these transactions following the changes.

This news is based on a press release statement from Nexxen International Ltd.

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