Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENT LIABILITIES

v3.22.2
COMMITMENTS AND CONTINGENT LIABILITIES
 6 Months Ended
Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENT LIABILITIES COMMITMENTS AND CONTINGENT LIABILITIES
(a)Pledges and bank guarantees:
1.In conjunction with the Agreement and its amendments (see Note 6), Innovid pledged 65,000 common stock of its Israeli Subsidiary, NIS 0.01 par value each.
2.The Israeli Subsidiary pledged bank deposits in an aggregate amount of $871 in connection with an office rent agreement and credit cards.
3.Innovid Inc. obtained bank guarantees in an aggregate amount of $231 in connection with its office lease agreements.
(b)Legal contingencies:
On March 4, 2022 the Nielsen Claim was filed by Nielsen, LLC against TVS. TVS has filed its answer to the complaint and has also filed an opposed motion to transfer venue to the Southern District of New York. The Texas Court has made a scheduling order and, in the event that TVS’s motion to transfer venue is not successful, the case is scheduled to go to trial in December 2023. The plaintiff has not specified the amount sought in the litigation.