Shares of Wix.com Ltd. (NASDAQ:WIX) rose 3% on Thursday after the company unveiled a modified Dutch auction tender offer to buy back up to $1.75 billion of its ordinary shares. The uptick extended gains from Wednesday, when the stock climbed 12.7% following the companys earnings release.
The tender offer allows holders to tender shares for cash at a price within the range of $80.00 to $92.00 per share, with cash payments to be made net of any applicable withholding taxes. The company noted that the closing price on March 4, 2026 - the last full trading day before the tender offer commenced - was $83.78 per share.
Under the terms disclosed, the offer is set to expire at one minute after 11:59 P.M. New York City time on April 1, 2026, unless Wix extends or terminates the offer. The company said the tender is not conditioned on a minimum number of shares being tendered nor is it contingent on any financing condition, although it remains subject to other customary terms and conditions set forth in the offer documents.
Wix described the repurchase as consistent with its long-term capital allocation objective of maximizing value for shareholders and other stakeholders. The company said the modified Dutch auction format gives it a way to complete the authorized repurchase program more quickly than repurchasing shares in the open market.
In addition, Wix highlighted that the tender offer provides shareholders an option to sell their shares without incurring brokerage fees or commissions that they might face when selling in the open market.
The companys statement focused on the mechanics and timing of the tender and reiterated that more detailed conditions and instructions are available in the formal offer documentation. No minimum tender condition or financing contingency applies to the offer, per the company disclosure.
Market context - The announcement followed an earnings-related rally the prior day, and the buyback plan represented a direct capital-return action intended to accelerate completion of Wixs authorized repurchase program relative to open market purchases.
Next steps for shareholders - Investors deciding whether to participate will need to consider the specified price range, the stated expiration date and the terms contained in the offer documents. The companys disclosure notes that the offer could be extended or terminated in accordance with its terms.