Perion Network to redeem 5% series L convertible bonds due 2020

Chicago, May 15 – Perion Network Ltd. announced that it will redeem its 5% series L convertible bonds due 2020 that were issued on Sept. 23, 2014, according to a press release.

The notes will be redeemed on June 6 for a sum of $8 million in principal, a prepayment charge of $0.3 million and accrued interest of approximately $0.07 million, amounting to a total redemption amount of approximately $8.4 million.

Following the redemption, the bond will be delisted from the Tel Aviv Stock Exchange.

Perion is an advertising company for brands and publishers based in Tel Aviv.

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