Perion Network Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K was filed by Perion Network Ltd. on May 15, 2017, covering the month of May 2017. The filing reports on a specific corporate financing event involving ClientConnect Ltd., an Israeli subsidiary of Perion.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, or overall debt figures for the company. The only specific financial metric disclosed relates to a new credit facility:
- New Credit Facility: Up to US $17.5 Million.
- Lender: Bank Mizrahi-Tefahot.
- Security: Lien on ClientConnect's accounts receivable.
- Guarantor: Perion Network Ltd.
- Maturity Date: May 2020.
Material Changes
The material change reported is the execution of the new credit facility by ClientConnect Ltd. on May 10, 2017. This represents an increase in available liquidity for the subsidiary, secured by its receivables and guaranteed by the parent company.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. No specific risks or contingencies are detailed beyond the standard terms of the credit agreement.
Investor Verification Checklist
- Verify the impact of the $17.5 million facility on the company's total debt load and leverage ratios.
- Confirm the utilization rate of the new credit line and the status of the underlying accounts receivable.
- Review the terms of the guarantee provided by Perion Network Ltd. for potential contingent liabilities.
- Check subsequent filings for any drawdowns on this facility or changes in the subsidiary's liquidity position.