# EDGAR Filing Document

**Accession Number:** 0001338940
**File Stem:** 0001178913-25-002381
**Filing Date:** 2025-7
**Character Count:** 16656
**Document Hash:** 597ceca65890185512448084d97c1a84
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001178913-25-002381.hdr.sgml**: 20250715

**ACCESSION NUMBER**: 0001178913-25-002381

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250715

**DATE AS OF CHANGE**: 20250715

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Perion Network Ltd.
- **CENTRAL INDEX KEY:** 0001338940
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** L3
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-82070
- **FILM NUMBER:** 251124209

**BUSINESS ADDRESS:**
- **STREET 1:** 2 LEONARDO DA VINCI ST., 24TH FLOOR
- **CITY:** TEL AVIV
- **STATE:** L3
- **ZIP:** 6473309
- **BUSINESS PHONE:** 972-73-398-1000

**MAIL ADDRESS:**
- **STREET 1:** 2 LEONARDO DA VINCI ST., 24TH FLOOR
- **CITY:** TEL AVIV
- **STATE:** L3
- **ZIP:** 6473309

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Perion Networks Ltd.
- **DATE OF NAME CHANGE:** 20111108

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IncrediMail Ltd.
- **DATE OF NAME CHANGE:** 20050916
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Value Base Ltd.
- **CENTRAL INDEX KEY:** 0001992355

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** L3
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** 23 YEHUDA HALEVI ST.
- **STREET 2:** 27TH FLOOR, DISCOUNT BANK TOWER
- **CITY:** TEL AVIV
- **STATE:** L3
- **ZIP:** 6513601
- **BUSINESS PHONE:** 972-3-622-3381

**MAIL ADDRESS:**
- **STREET 1:** 23 YEHUDA HALEVI ST.
- **STREET 2:** 27TH FLOOR, DISCOUNT BANK TOWER
- **CITY:** TEL AVIV
- **STATE:** L3
- **ZIP:** 6513601

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 1)**

**Issuer:** Perion Network Ltd.

**Title of Class of Securities:** Ordinary shares, par value NIS 0.03 per share

**CUSIP Number:** M78673114

**Date of Event Which Requires Filing of this Statement:** 07/14/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Value Base Ltd. | Names of Reporting Persons<br>Value Base Ltd. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>L3 | Citizenship or Place of Organization<br>L3 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2528710 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2528710 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2528710 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2528710 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.61% | Percent of Class Represented by Amount in Row (9)<br>5.61% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** Percentage reported in Item 11 above is based on 45,037,180 ordinary shares outstanding as of March 5, 2025 (as reported in the Issuer's Form 20-F filed with the Securities and Exchange Commission (the "SEC") on March 25, 2025).

---

| 1. | Names of Reporting Persons<br>Victor Shamrich | Names of Reporting Persons<br>Victor Shamrich |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>L3 | Citizenship or Place of Organization<br>L3 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2528710 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2528710 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2528710 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2528710 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.61% | Percent of Class Represented by Amount in Row (9)<br>5.61% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** Percentage reported in Item 11 above is based on 45,037,180 ordinary shares outstanding as of March 5, 2025 (as reported in the Issuer's Form 20-F filed with the SEC on March 25, 2025).

---

| 1. | Names of Reporting Persons<br>Ido Nouberger | Names of Reporting Persons<br>Ido Nouberger |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>L3 | Citizenship or Place of Organization<br>L3 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2528710 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2528710 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2528710 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2528710 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.61% | Percent of Class Represented by Amount in Row (9)<br>5.61% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** Percentage reported in Item 11 above is based on 45,037,180 ordinary shares outstanding as of March 5, 2025 (as reported in the Issuer's Form 20-F filed with the SEC on March 25, 2025).

---

| 1. | Names of Reporting Persons<br>Value Base Fund Management Ltd. for Value Base Fund General Partner Ltd., acting as the general partner to Value Base Fund Limited Partnership | Names of Reporting Persons<br>Value Base Fund Management Ltd. for Value Base Fund General Partner Ltd., acting as the general partner to Value Base Fund Limited Partnership |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>L3 | Citizenship or Place of Organization<br>L3 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2528710 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2528710 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2528710 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2528710 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.61% | Percent of Class Represented by Amount in Row (9)<br>5.61% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** Percentage reported in Item 11 above is based on 45,037,180 ordinary shares outstanding as of March 5, 2025 (as reported in the Issuer's Form 20-F filed with the SEC on March 25, 2025).

---

**Item 1(a). Name of Issuer:**
Perion Network Ltd.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
2 Leonardo Da Vinci Street, 24th Floor, Tel Aviv, Israel, 6473309

**Item 2(a). Name of Person Filing:**
This statement is filed on behalf of each of the following, which will be referred to hereinafter, individually as a "Reporting Person" and collectively as the "Reporting Persons":

Value Base Ltd.

Victor Shamrich

Ido Nouberger

Value Base Fund Management Ltd. for Value Base Fund General Partner Ltd., acting as the general partner to Value Base Fund Limited Partnership

**Item 2(b). Address of Principal Business Office:**
Address of the Principal Business Office of each of the Reporting Persons is:

23 Yehuda Halevi St., Tel-Aviv 6513601, Israel

**Item 2(c). Citizenship:**
Each of the Reporting Person is a citizen of or organized under the laws of the State of Israel.

**Item 2(d). Title of Class of Securities:**
Ordinary shares, par value NIS 0.03 per share

**Item 2(e). CUSIP Number:**
M78673114

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

Incorporated by reference to Item 9 of the cover page for each Reporting Person.
The securities reported herein are beneficially owned as follows: 2,528,710 Ordinary Shares owned directly by Value Base Fund Limited Partnership, a Cayman Islands limited partnership.
The general partner of Value Base Fund Limited Partnership is Value Base Fund General Partner Ltd., an Israeli private company (the "VBF General Partner"), which has delegated its management responsibilities to a management company, Value Base Fund Management Ltd., an Israeli private company (the "Management Company").
Each of the VBF General Partner and the Management Company is controlled by Value Base Ltd., which directly and indirectly holds a majority of the shares of each such company. Value Base Ltd., an Israeli company, is controlled by Messrs Victor Shamrich and Ido Nouberger.
This Statement shall not be construed as an admission by any of the Reporting Persons that it is the beneficial owner of any of the securities covered by this Statement, and each Reporting Person disclaims beneficial ownership of any such securities. In addition, the Reporting Persons and other entities named in this Schedule 13G may be deemed to constitute a "group" for purposes of Section 13(d) of the Securities Exchange Act of 1934. Neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission that a group exists for purposes of Section 13(d) of the Securities Exchange Act of 1934 or for any other purpose, and each of the Reporting Persons and other entities named in this Schedule 13G disclaims the existence of any such group.

**(b) Percent of class:**

Incorporated by reference to Item 11 of the cover page for each Reporting Person.
Percentages reported in Item 11 of the cover page for each Reporting Person are based on 45,037,180 ordinary shares outstanding as of March 5, 2025 (as reported in the Issuer's Form 20-F filed with the SEC on March 25, 2025).

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

Incorporated by reference to Item 5 of the cover page for each Reporting Person.

**(ii) Shared power to vote or to direct the vote:**

Incorporated by reference to Item 6 of the cover page for each Reporting Person.

**(iii) Sole power to dispose or to direct the disposition of:**

Incorporated by reference to Item 7 of the cover page for each Reporting Person.

**(iv) Shared power to dispose or to direct the disposition of:**

Incorporated by reference to Item 8 of the cover page for each Reporting Person.

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

—

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Value Base Ltd.**

**Date:** 07/15/2025

**By:** /s/ Ido Nouberger

**Name & Title:** Ido Nouberger/CEO

**Victor Shamrich**

**Date:** 07/15/2025

**By:** /s/ Victor Shamrich

**Name & Title:** Victor Shamrich

**Ido Nouberger**

**Date:** 07/15/2025

**By:** /s/ Ido Nouberger

**Name & Title:** Ido Nouberger

**Value Base Fund Management Ltd. for Value Base Fund General Partner Ltd., acting as the general partner to Value Base Fund Limited Partnership**

**Date:** 07/15/2025

**By:** /s/ Ido Nouberger

**Name & Title:** Ido Nouberger/Director*