DIY website company Wix.com Ltd. (Nasdaq: WIX) today cancelled its planned secondary offering on Nasdaq, citing adverse market conditions. On March 20, the company filed with the US Securities and Exchange Commission (SEC) a Form F-1 registration statement for an offering of shares and an offer to sell by shareholders.
Wix's share price has fallen from its high of $31 a month ago to close at $21.02 on Friday, giving a market cap of $788 million.
Wix is headquartered in Tel Aviv, and has offices in New York, San Francisco, the Lithuanian capital of Vilnius, and Dnepropetrovsk in eastern Ukraine. The company posted a GAAP-based net loss of $28.7 million in 2013 on $80.5 million revenue, 84% less than in 2012.
Published by Globes [online], Israel business news - www.globes-online.com - on March 31, 2014
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