Wix.com announces streamlined approval process for share repurchases

Wix.com announced amendments to the Israeli Companies Regulations, which eliminate, subject to certain conditions, the requirement to obtain mandatory Israeli court approval for share repurchases for companies that were otherwise required to obtain such approval. Companies are still subject to other necessary legal approvals outside of the previously mandatory Israeli court approval. These Relief Regulations will streamline required regulatory approvals for share repurchases, allowing Wix to expedite its ability to begin execution of share repurchase activity. As previously announced, Wix is in the process of pursuing the necessary approvals required under Israeli law, now under the new Relief Regulations, for $225M in additional share repurchases, as authorized by the Board of Directors.