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Wix Announces Completion of $300 Million in Share Repurchases

NEW YORK, Feb. 15, 2024 /PRNewswire/ -- Wix.com Ltd. (Nasdaq: WIX), today announced that it has completed $300 million in share repurchases, which received court approval in December 2023 and is part of the authorization by its Board of Directors approved in August 2023.

(PRNewsfoto/Wix.com Ltd.)
(PRNewsfoto/Wix.com Ltd.)

The Company repurchased 2,401,695 outstanding Wix ordinary shares, representing approximately 4% of total shares outstanding, at an approximate volume-weighted average price per share of $124.91.

Pursuant to its Board of Directors' authorization of share repurchases of 50% of projected free cash flow through 2025 (excluding costs associated with the Company's new headquarters office build out), Wix is in the process of pursuing the necessary approvals for $225 million in additional share repurchases.

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About Wix.com Ltd.

Wix is the leading SaaS website builder platform to create, manage, and grow a global, digital presence1. What began as a website builder in 2006 is now a complete platform providing self-creators, agencies, and enterprises, with distinguished performance, security, and a reliable infrastructure. With a focus on continuous innovation, a wide range of commerce and business solutions, advanced SEO, marketing tools, and industry-leading AI technologies, Wix users have full ownership of their brand and unmatched creative freedom. Complimenting the Wix platform for self-creators, Wix Studio is an advanced creation and management platform for agencies and freelancers.

For more about Wix, please visit our Press Room at https://www.wix.com/press-room/home.

Investor Relations: ir@wix.com

Media Relations Contact: PR@wix.com

1 Based on number of active live sites as reported by competitors' figures, independent third-party-data and internal data as of Q3 2023.

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SOURCE Wix.com Ltd.