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TEL AVIV, Israel – Nexxen International Ltd., a company specializing in computer programming and data processing services, announced today that it has completed updates to its stock exchange and trading structure. This move, detailed in a Form 6-K filing with the Securities and Exchange Commission (SEC), marks a significant corporate development for the Tel Aviv-based firm, formerly known as Tremor International Ltd. According to InvestingPro data, Nexxen maintains a strong financial health score of "GOOD" and has demonstrated profitability with earnings per share of $0.21 over the last twelve months.
The changes, effective today, were outlined in a company announcement attached as Exhibit 99.1 to the Form 6-K. Nexxen International, which files annual reports under Form 20-F, is now poised to operate under a revised framework that could potentially impact its interactions with global markets and investors. The company currently appears undervalued according to InvestingPro analysis, with impressive gross profit margins of 82.29% and strong liquidity metrics. For detailed insights and access to 10+ additional ProTips about Nexxen’s financial outlook, investors can explore the comprehensive Pro Research Report available on InvestingPro.
Nexxen’s Chief Financial Officer, Sagi Niri, signed off on the report, underscoring the company’s commitment to compliance with SEC regulations and transparency with shareholders. The information disclosed in this report will also be incorporated by reference into Nexxen’s registration statement on Form S-8 (Registration No. 333-258731).
While the specific details of the structural changes were not disclosed in the brief announcement, the completion of this process indicates Nexxen’s efforts to align its operations with its strategic objectives. Investors and market watchers will likely monitor how these updates influence Nexxen’s performance and positioning in the technology services sector.
The company’s business address remains at 82 Yigal Alon Street, Tel Aviv, Israel, where it continues to maintain its principal executive offices. This latest corporate action follows the company’s name change from Tremor International Ltd. on March 4, 2021.
This news is based on a press release statement and provides a factual summary of Nexxen International’s recent filing with the SEC. For further details and developments, stakeholders are encouraged to review the full Form 6-K filing and associated exhibits. Investors seeking deeper analysis can access Nexxen’s complete financial health metrics, valuation models, and expert insights through InvestingPro’s comprehensive research platform.
In other recent news, Nexxen International Ltd. has announced significant changes in its stock exchange and trading structure, aiming to enhance the company’s trading framework in compliance with the AIM Market Rules. JMP Securities has also maintained a positive stance on Nexxen, emphasizing the company’s improved sales execution and the ongoing benefits of the connected TV (CTV) industry’s growth. The firm also highlighted Nexxen’s unique data assets driving future expansion and the company’s commitment to enhancing shareholder value through a new $50 million share repurchase program.
In the meantime, Nexxen has disclosed the outcomes of its Annual General Meeting (AGM) in a Form 6-K filing with the U.S. Securities and Exchange Commission. The specific resolutions approved were not detailed in the filing, but the event is a significant part of the company’s corporate evolution.
Needham has also expressed optimism about Nexxen’s growth trajectory, raising its price target on the company’s shares to $12.00 from the previous $9.50. The firm projects a 10% net revenue growth and a 69% EPS growth rate for Nexxen in 2025, driven by the company’s plans to transform its US American Depositary Receipts (ADRs) into Nasdaq-listed Ordinary shares and increase its end-to-end revenues.
These are just a few of the recent developments involving Nexxen International Ltd., a company that continues to evolve and adapt to the changing market landscape.
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