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Nexxen International Ltd

For the period ended Dec 31, 2024. Filed Mar 5, 2025.

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About this filing

The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.

FY2024 · Filed Mar 5, 2025

NEXN$8.84-1.4%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 20-F

☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b)

OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended

December 31,2024

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

OR

☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File No.001-40504

(Exact name of registrant as specified in its charter)

Not applicable

(Translation of Registrant’s name into English)

Israel

(Jurisdiction of incorporation or organization)

82 Yigal Alon Street

Tel Aviv,6789124, Israel

+972-3-545-3900

(Address of principal executive offices)

Sagi Niri

Chief Financial Officer

sniri@nexxen.com

82 Yigal Alon Street

Tel Aviv,6789124, Israel

+972-3-545-3900

(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act.

Title of each classTrading Symbol(s)Name of each exchange on which registered
Ordinary shares, par value NIS 0.02 per shareNEXNThe Nasdaq Stock Market LLC (Global Market)

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the Annual Report:65,562,670 ordinary shares, par value NIS 0.02 per share (excluding Treasury Shares and including 16,474,190 ordinary shares underlying American Depositary Shares) as of December 31, 2024. For clarity, the ordinary shares are presented on a post-Reverse Split basis. Please see Part I, Item 8.B. “Significant Changes” of the Annual Report for a discussion about our current trading structure and changes that occurred as of February 14, 2025, including information about the Reverse Split.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes ☐No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Yes ☐No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or an emerging growth company.

See definition of “large accelerated filer,” “accelerated filer” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐Accelerated filer ☒Non-accelerated filer ☐Emerging growth company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.☐

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

U.S. GAAP ☐International Financial Reporting Standards as issued by the International Accounting Standards Board ☒Other ☐

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow:

Item 17 ☐ Item 18 ☐

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No☒

Form 20-F

For the Fiscal Year Ended December 31, 2024

TABLE OF CONTENTS

INTRODUCTION AND USE OF CERTAIN TERMS1
PRESENTATION OF FINANCIAL AND OTHER INFORMATION1
TRADEMARKS2
MARKET INFORMATION2
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS AND RISK FACTOR SUMMARY3
PART I5
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS5
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE5
ITEM 3. KEY INFORMATION5
3.A. [RESERVED]5
3.B. CAPITALIZATION AND INDEBTEDNESS5
3.C. REASONS FOR THE OFFER AND USE OF PROCEEDS5
3.D. RISK FACTORS5
ITEM 4. INFORMATION ON THE COMPANY28
4.A. HISTORY AND DEVELOPMENT OF THE COMPANY28
4.B. BUSINESS OVERVIEW28
4.C. ORGANIZATIONAL STRUCTURE40
4.D. PROPERTY, PLANTS AND EQUIPMENT40
ITEM 4A. UNRESOLVED STAFF COMMENTS40
ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS40
5.A. OPERATING RESULTS41
5.B. LIQUIDITY AND CAPITAL RESOURCES52
5.C. RESEARCH AND DEVELOPMENT, PATENTS AND LICENSES53
5.D. TREND INFORMATION54
5.E. CRITICAL ACCOUNTING ESTIMATES54
ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES55
6.A. DIRECTORS AND SENIOR MANAGEMENT55
6.B. COMPENSATION57
6.C. BOARD PRACTICES62
6.D. EMPLOYEES71
6.E. SHARE OWNERSHIP71
6.F. DISCLOSURE OF REGISTRANT’S ACTION TO RECOVER ERRONEOUSLY AWARDED COMPENSATION71
ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS71
7.A. MAJOR SHAREHOLDERS71
7.B. RELATED PARTY TRANSACTIONS73
7.C. INTERESTS OF EXPERTS AND COUNSEL73
ITEM 8. FINANCIAL INFORMATION73
8.A. CONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION73
8.B. SIGNIFICANT CHANGES74
ITEM 9. THE OFFER AND LISTING74
9.A. OFFER AND LISTING DETAILS74
9.B. PLAN OF DISTRIBUTION75
9.C. MARKETS75
9.D. SELLING SHAREHOLDERS75
9.E. DILUTION75
9.F. EXPENSES OF THE ISSUE75
ITEM 10. ADDITIONAL INFORMATION76
10.A. SHARE CAPITAL76
10.B. MEMORANDUM AND ARTICLES OF ASSOCIATION76
10.C. MATERIAL CONTRACTS76
10.D. EXCHANGE CONTROLS76
10.E. TAXATION76
10.F. DIVIDENDS AND PAYING AGENTS83
10.G. STATEMENT BY EXPERTS83
10.H. DOCUMENTS ON DISPLAY83
10.I. SUBSIDIARY INFORMATION83
ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK83

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ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES84
12.A. DEBT SECURITIES84
12.B. WARRANTS AND RIGHTS84
12.C. OTHER SECURITIES84
12.D. AMERICAN DEPOSITARY SHARES84
PART II86
ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES86
ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS86
ITEM 15. CONTROLS AND PROCEDURES86
ITEM 16. [RESERVED]86
ITEM 16A. AUDIT COMMITTEE AND FINANCIAL EXPERT86
ITEM 16B. CODE OF ETHICS87
ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES87
ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES.87
ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS.88
ITEM 16F. CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT88
ITEM 16G. CORPORATE GOVERNANCE88
ITEM 16H. MINE SAFETY DISCLOSURE88
ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS88
ITEM 16J. INSIDER TRADING POLICIES89
ITEM 16K. CYBERSECURITY89
PART III90
ITEM 17. FINANCIAL STATEMENTS90
ITEM 18. FINANCIAL STATEMENTS90
ITEM 19. EXHIBITS90
SIGNATURES91

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ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.