For the month of October 2008
Commission File Number: 000-51694
IncrediMail Ltd.
(Translation of registrants name into English)
4 HaNechoshet St.,
Tel-Aviv, Israel 69710
(Address of principal
executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________
On October 23, 2008, the registrant issued a press release announcing the sale of $5 million of Auction Rate Securities at par value. A copy of the press release is annexed hereto as Exhibit 1 and is incorporated herein by reference.
Exhibit 1 | Press release dated October 23, 2008, announcing the sale of $5 million of Auction Rate Securities at par value. |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
IncrediMail Ltd. By: /s/ Ofer Adler Ofer Adler Chief Executive Officer |
Date: October 23, 2008
Exhibit 1
Tel-Aviv, Israel October 23, 2008 IncrediMail Ltd. (NASDAQ: MAIL, www.incredimail-corp.com), an Internet company, announced today that it has sold $5.0 million of Auction Rate Securities (ARS) to Credit Suisse, which sold the securities to IncrediMail in July of 2007. IncrediMail will receive $5.0 million, (100% of par value) for the securities.
In the fourth quarter of 2007, as a result of the well-publicized illiquidity in the ARS market, IncrediMail was required to take a $4.9 million non-cash impairment charge. The repurchase of the ARS by Credit Suisse will result in a one-time gain, net of legal costs, totaling $4.8 million, or approximately $0.50 per share, which will be included in the Companys results for the fourth quarter of 2008.
Commenting on the transaction, Yacov Kaufman, Chief Financial Officer of IncrediMail, stated, The return of this investment enhances IncrediMails already strong balance sheet. The funds provide us with solid support during these turbulent times and will allow us to continue confidently in advancing our business model and the repurchase of shares under the previously authorized buy-back.
As of June 30, 2008, before receiving these proceeds, IncrediMail reported cash, cash equivalents and marketable securities of $23.4 million, or $2.44 per share.
About IncrediMail Ltd.
IncrediMail Ltd. (NASDAQ: MAIL) is an
internet company that designs, markets and delivers high end personal desktop software.
The companys award winning e-mail client product, IncrediMail Premium, is sold in
over 100 countries in 10 different languages. Other products include Magentic, a wallpaper
and screensaver software for presenting digital personal photos, and HiYo, a graphic
add-on to instant messaging software.
Forward Looking
Statements
This press release contains
historical information and forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995 with respect to the business, financial condition
and results of operations of the Company. The words believe,
expect, intend, plan, should and similar
expressions are intended to identify forward-looking statements. Such statements reflect
the current views, assumptions and expectations of the Company with respect to future
events and are subject to risks and uncertainties. Many factors could cause the actual
results, performance or achievements of the Company to be materially different from any
future results, performance or achievements that may be expressed or implied by such
forward-looking statements, including, among others, changes in the markets in which the
Company operates and in general economic and business conditions, loss of key customers
and unpredictable sales cycles, competitive pressures, market acceptance of new products,
inability to meet efficiency and cost reduction objectives, changes in business strategy
and various other factors, both referenced and not referenced in this press release.
Various risks and uncertainties may affect the Company and its results of operations, as
described in reports filed by the Company with the Securities and Exchange Commission from
time to time. The Company does not assume any obligation to update these forward-looking
statements.
Contact Information
For further information please contact:
Jeff Holzmann
President
Jeff@IncrediMail.ihostexchange.net
David Burke / Marybeth Csaby
KCSA Strategic Communications
(212) 896-1258 / 212-896-1236
dburke@kcsa.com / mcsaby@kcsa.com