Company: PERI
Filing Date: 2025-04-03
Form Type: 6-K
Source: 0001178913-25-001191
Chunk: 5

Company: Perion Network Ltd.
Filing Date: 2025-04-03
Form: 6-K
Chunk 5
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 Shares and securities convertible into or exchangeable for Ordinary Shares) either directly from the Company or from any underwriters engaged by the Company, in each case in a securities offering transaction approved by the Board of Directors of the Company as an offering intended to allow a Person or a group of Persons to beneficially own, upon the consummation of such offering, more than 13% of the Ordinary Shares of the Company then outstanding (such a securities offering, a “ Permitted Offering”), shall become an “Acquiring Person” for any purpose of this Agreement unless such Person shall, after the consummation of such Permitted Offering, become the Beneficial Owner of Ordinary Shares of the Company in an amount equal to or greater than the sum of (I) the lowest number of Ordinary Shares beneficially owned by such Person as a percentage of the outstanding Ordinary Shares as of immediately after the consummation of the Permitted Offering and (II) 0.001%. Exchange The Board may, at its option, at any time after an Issuance Date, exchange all or part of the then outstanding and exercisable Rights (except for Rights that have become null and void) for Ordinary Shares at an exchange ratio of (i) one half (0.5) Ordinary Share per Right, appropriately adjusted to reflect any adjustment in the number of Rights less (ii) such fraction of an Ordinary Share as is calculated by dividing (A) the Purchase Price, by (B) the closing price of each Ordinary Share for the Trading Day immediately prior to the date on which the Board determines to exchange all or part of the then outstanding exercisable Rights for Ordinary Shares (the “ Exchange Ratio”). However, the Board will not be empowered to effect such exchange at any time after any Person (other than the Company, any Subsidiary of the Company, any employee benefit or stock ownership plan of the Company or any such Subsidiary, or any entity holding Ordinary Shares for or pursuant to the terms of any such plan), together with all Affiliates and Associates of such Person, becomes the Beneficial Owner of 50% or more of the Ordinary Shares then outstanding. Immediately upon the action of the Board ordering the foregoing exchange, the right to exercise the Rights that are to be exchanged will terminate and the only right thereafter of a holder of such Rights shall be to receive that number of Ordinary Shares equal to the number of such Rights held by such holder multiplied by the Exchange Ratio. In the event that there shall not be sufficient Ordinary Shares issued but not