Fiverr Announces Withdrawal of Follow-On Offering

Rhea-AI Summary

Fiverr International Ltd. (NYSE: FVRR) has decided to withdraw its proposed underwritten public offering of ordinary shares due to current market conditions, deeming it not in the best interest of the company and its shareholders. This decision indicates a cautious approach to equity capital raising amidst fluctuating market dynamics. Fiverr continues to focus on connecting businesses with skilled freelancers, maintaining its position as a prominent player in the digital services sector.

Positive

• Company is prioritizing shareholder interests by not proceeding with the equity raise under unfavorable market conditions.

Negative

• None.

Fiverr International Ltd. (NYSE: FVRR) (“Fiverr”) has determined that given Wednesday’s market conditions it is not in the best interest of the company and its shareholders to raise equity capital and has withdrawn its proposed underwritten public offering of ordinary shares.

About Fiverr

Fiverr’s mission is to change how the world works together. For over 10 years, the Fiverr platform has been at the forefront of the future of work connecting businesses of all sizes with skilled freelancers offering digital services in more than 500 categories, across 8 verticals including graphic design, digital marketing, programming, video and animation. In the twelve months ended December 31, 2020, over 3.4 million customers bought a wide range of services from freelancers across more than 160 countries.

Forward Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements that include the words “believe,” “may,” “will,” “expect,” “estimate,” “could,” “should,” “anticipate,” “aim,” “intend,” “plan,” “potential,” “continue,” “is/are likely to” and similar statements of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including factors discussed under the caption “Risk Factors” in our annual report on Form 20-F filed with the SEC on February 18, 2021 as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. In addition, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements that we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release are inherently uncertain and may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as predictions of future events. In addition, the forward-looking statements made in this release relate only to events or information as of the date on which the statements are made in this release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210304005246/en/

FAQ

What recent decision did Fiverr International Ltd. (FVRR) make regarding its public offering?

Fiverr International Ltd. (FVRR) withdrew its proposed underwritten public offering of ordinary shares due to current market conditions.

Why did Fiverr withdraw its public offering?

Fiverr determined that raising equity capital was not in the best interest of the company and its shareholders based on Wednesday’s market conditions.

What is Fiverr's main business focus?

Fiverr connects businesses with skilled freelancers offering digital services in more than 500 categories across various industries.