SPARK NETWORKS TO TRANSFER STOCK EXCHANGE LISTING TO NASDAQ
Spark Networks SE (NYSE American: LOV) will transfer its stock listing to the Nasdaq Capital Market, effective February 15, 2022. This move aims to enhance visibility and liquidity, aligning with the company's growth-oriented strategy. CFO David Clark expresses optimism about this transition, highlighting plans for sustainable revenue growth and long-term shareholder value. Nasdaq's Managing Director Andrew Hall welcomes Spark Networks, emphasizing the benefits of increased institutional exposure.
- Transfer to Nasdaq expected to enhance visibility and liquidity for investors.
- CFO expresses confidence in sustainable revenue growth and long-term value creation.
- Uncertainties exist regarding the realization of benefits from the Zoosk acquisition.
BERLIN, Feb. 11, 2022 /PRNewswire/ -- Spark Networks SE (NYSE American: LOV), a leader in social dating platforms for meaningful relationships focusing on the 40+ demographic and faith-based affiliations, including Zoosk, SilverSingles, EliteSingles, Christian Mingle, and Jdate, today announced that it will transfer its stock exchange listing from the NYSE American to the Nasdaq Capital Market ("Nasdaq"). The Company expects that its American Depository Shares (ADSs) will commence trading on Nasdaq on February 15, 2022, and will continue to be listed under the ticker symbol "LOV."
"We're excited to announce the transfer of our stock exchange listing to the Nasdaq Capital Market," said David Clark, CFO of Spark Networks. "Nasdaq's focus on growth-oriented technology companies aligns well with our Company and strategy, and we look forward to communicating our plan to drive sustainable revenue growth and build long-term value for our shareholders as a Nasdaq-listed company."
"We are excited to welcome Spark Networks listing on Nasdaq, joining our market of industry leading companies," said Andrew Hall, Managing Director of Nasdaq New Listings. "We are confident that a listing with Nasdaq will provide Spark Networks with enhanced visibility, greater liquidity and increased exposure to the institutional investment community. We look forward to our partnership with Spark Networks in the years to come."
About Spark Networks SE
Spark Networks SE is a leading global dating company with headquarters in Berlin, Germany and offices in New York and Utah. The Company's widening portfolio of premium and freemium dating apps include Zoosk, EliteSingles, SilverSingles, Christian Mingle, Jdate, and JSwipe, among others. Spark Networks SE in its current form is the result of the merger between Affinitas GmbH and Spark Networks, Inc. in 2017 and the addition of Zoosk, Inc. in 2019. Spark has approximately one million monthly paying subscribers globally.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, statements involving known and unknown risks, uncertainties, and other factors that may cause Spark Networks' performance or achievements to be materially different from those of any expected future results, performance, or achievements. These statements include statements regarding the expected date of Spark Networks' stock exchange listing transfer to the Nasdaq Capital Market, any benefits of such stock exchange listing transfer, and Spark Networks' growth prospects. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Written words, such as "believes," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates," and variations thereof, or the use of future tense, identify forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially, including, but not limited to, the risk that the benefits from the acquisition of Zoosk, Inc. may not be fully realized or may take longer to realize than expected; risks related to the degree of competition in the markets in which Spark Networks operates; risks related to the ability of Spark Networks to retain and hire key personnel, operating results and business generally; the timing and market acceptance of new products introduced by Spark Networks' competitors; Spark Networks' ability to identify potential acquisitions; Spark Networks' ability to comply with new and evolving regulations relating to data protection and data privacy; general competition and price measures in the market place; risks related to the duration and severity of COVID-19 and its impact on Spark Networks' business; and general economic conditions. Additional factors that could cause actual results to differ are discussed under the heading "Risk Factors" in Spark Networks' Annual Report on Form 10-K for the year ended December 31, 2020 and in other sections of Spark Networks' filings with the Securities and Exchange Commission ("SEC"), and in Spark Networks' other current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement except as required by law.
Contact
Investors:
Todd Kehrli/Joo-Hun Kim
MKR Investor Relations, Inc.
lov@mkr-group.com
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SOURCE Spark Networks SE
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