UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 7.01. Regulation FD.
On May 5, 2022, the Registrant posted an announcement to the investors page of its website (www.idt.net). A copy of the announcement is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
The Registrant is furnishing the information contained in this Report, including Exhibit 99.1, pursuant to Item 7.01 of Form 8-K promulgated by the Securities and Exchange Commission (the “SEC”). This information shall not be deemed to be “filed” with the SEC or incorporated by reference into any other filing with the SEC unless otherwise expressly stated in such filing. In addition, this Report and the press release contain statements intended as “forward-looking statements” that are subject to the cautionary statements about forward-looking statements set forth in the press release.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Document | |
99.1 | Press Release of the Registrant, dated May 5, 2022. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
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 hereunto duly authorized.
IDT CORPORATION | ||
By: | /s/ Shmuel Jonas | |
Name: | Shmuel Jonas | |
Title: | Chief Executive Officer |
Dated: May 5, 2022
EXHIBIT INDEX
Exhibit Number |
Document | |
99.1 | Press Release of the Registrant, dated May 5, 2022. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
Exhibit 99.1
IDT Corporation Postpones Spinoff of net2phone
NEWARK, NJ – May 5, 2022: IDT Corporation (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications services, announced today that, in light of current market conditions, its Board of Directors has postponed the spinoff of its net2phone cloud communications segment, which it had been preparing to spin off on or before July 31st, 2022.
“The net2phone team has achieved exceptional results bringing advanced cloud communication solutions to markets in North and South America,” said Jonah Fink, President of net2phone. “We remain very excited by net2phone’s rapid growth, the transformational opportunities created through the recent acquisition of Integra, and the strength of net2phone’s global channel partnerships.”
Shmuel Jonas, IDT’s CEO, added, “While net2phone remains within IDT, we will rapidly execute on a plan to transform net2phone’s business so that it will become bottom line accretive, and we remain resolute in our commitment to grow and monetize the business at an opportune time.”
About IDT Corporation:
IDT Corporation (NYSE: IDT) is a global provider of fintech, cloud and traditional communications services. We make it easy for families to communicate and support each other across international borders. We also enable businesses to transact and communicate with their customers with enhanced intelligence and insight.
Our BOSS Money international remittance and BOSS Revolution international calling services make sending money and speaking with friends and family around the world convenient and reliable. National Retail Solutions’ (NRS) point-of-sale retail network enables independent retailers to operate and process transactions more effectively while providing advertisers and consumer marketers with unprecedented reach into underserved consumer markets. net2phone’s communications-as-a-service solutions provide businesses with intelligently integrated cloud communications and collaboration tools across channels and devices. Our IDT Global and IDT Express wholesale offerings enable communications service enterprises to provision and manage international voice and SMS services.
Contact:
Bill Ulrey
IDT Investor Relations
Phone: (973) 438-3838
E-mail: invest@idt.net
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