Magic Software Sets Merger Completion Date, Confirms NASDAQ Delisting
Summary
Magic Software Enterprises announced the expected completion date of its reverse triangular merger with Matrix I.T Ltd. on February 24, 2026, which will result in the company's delisting from NASDAQ and TASE.
Key Events
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Merger Completion Date Set
The reverse triangular merger with Matrix I.T Ltd. is expected to be completed on February 24, 2026, upon receipt of the Merger Certificate from the Israeli Registrar of Companies.
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Exchange Ratio Finalized
Eligible shareholders will receive 0.5878202 Matrix ordinary shares for each one (1) Magic Software ordinary share.
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NASDAQ and TASE Delisting Confirmed
Upon completion of the merger, Magic Software's ordinary shares will be delisted from trading on the Tel Aviv Stock Exchange and NASDAQ, and the company will become a private entity wholly owned by Matrix.
Analysis
This filing provides the definitive timeline for the previously announced reverse triangular merger with Matrix I.T Ltd., setting the expected completion date for February 24, 2026. The most significant aspect for current shareholders is the confirmation that Magic Software's ordinary shares will be delisted from both NASDAQ and the Tel Aviv Stock Exchange, transforming the company into a private entity wholly owned by Matrix. This marks the final stage of a major corporate action, fundamentally altering the investment thesis for existing shareholders who will now receive Matrix shares based on the finalized exchange ratio.
At the time of this filing, MGIC was trading at $17.81 on NASDAQ in the Technology sector, with a market capitalization of approximately $874.5M. The 52-week trading range was $11.65 to $28.00. This filing was assessed with neutral market sentiment and an importance score of 9 out of 10.