Magic Software (MGIC) says Matrix reverse merger is nearly complete, awaiting final certificate
Rhea-AI Filing Summary
Magic Software Enterprises Ltd. reports that nearly all conditions for its planned reverse triangular merger with Matrix I.T Ltd. and Magitrix Ltd. under the November 3, 2025 agreement have been satisfied. The remaining step is receipt of the merger certificate from the Israeli Registrar of Companies.
The company states that the merger is on track to close in the coming weeks, subject to this final approval. It refers investors to its November 3, 2025 proxy statement for more details and cautions that forward-looking statements, including expectations about closing timing, are subject to various risks and uncertainties.
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Insights
Magic Software says its Matrix merger is nearly complete, pending a final Israeli corporate approval.
Magic Software Enterprises indicates that conditions precedent for its reverse triangular merger with Matrix I.T Ltd. and Magitrix Ltd. under the November 3, 2025 agreement have been met, aside from the merger certificate from the Israeli Registrar of Companies.
This means regulatory, tax and other contractual requirements, including an Israel Tax Authority ruling, are described as satisfied. The remaining certificate is a formal step in Israeli corporate procedure but remains a gating item, so timing still depends on the Registrar’s processing and any related administrative review.
The company states the merger is on track to close in the coming weeks and flags this as a forward-looking statement subject to risks. Future disclosures in company filings may provide confirmation of the certificate’s receipt and the actual closing date once those events occur.