<SEC-DOCUMENT>0001213900-25-042247.txt : 20250513
<SEC-HEADER>0001213900-25-042247.hdr.sgml : 20250513
<ACCEPTANCE-DATETIME>20250513061337
ACCESSION NUMBER:		0001213900-25-042247
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20250513
FILED AS OF DATE:		20250513
DATE AS OF CHANGE:		20250513

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SAPIENS INTERNATIONAL CORP N V
		CENTRAL INDEX KEY:			0000885740
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		ORGANIZATION NAME:           	06 Technology
		EIN:				000000000
		STATE OF INCORPORATION:			P8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20181
		FILM NUMBER:		25936991

	BUSINESS ADDRESS:	
		STREET 1:		AZRIELI CENTER
		STREET 2:		26 HAROKMIM ST.
		CITY:			HOLON
		STATE:			L3
		ZIP:			5885800
		BUSINESS PHONE:		97289382777

	MAIL ADDRESS:	
		STREET 1:		AZRIELI CENTER
		STREET 2:		26 HAROKMIM ST.
		CITY:			HOLON
		STATE:			L3
		ZIP:			5885800
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ea0241878-6k_sapiens.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
<TEXT>

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<p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><b>UNITED STATES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><b>SECURITIES AND EXCHANGE
COMMISSION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><b>WASHINGTON D.C. 20549</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><b>FORM 6-K</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><b>Report of Foreign Private
Issuer</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><b>Pursuant to Rule 13a-16
or 15d-16</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><b>of the Securities Exchange
Act of 1934</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">For the month of <b>May
2025</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">Commission File Number&nbsp;<b>000-20181</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</p>

<p style="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><b>SAPIENS INTERNATIONAL
CORPORATION N.V.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">(Translation of registrant&rsquo;s
name into English)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><b>Azrieli Center</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><b>26 Harokmim St.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><b>Holon, 5885800 Israel</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">(Address of principal
executive offices)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">Form 20-F <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Form
40-F&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></p>

<p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white">&nbsp;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><b>CONTENTS</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><b><i>Exhibits</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt; background-color: white">The
following exhibit is furnished as part of this Form&nbsp;6-K:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt; background-color: white">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left; vertical-align: bottom; width: 9%"><font style="font-size: 10pt"><b>Exhibit</b> &nbsp;</font></td>
    <td style="vertical-align: top; text-align: center; width: 1%">&nbsp;</td>
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center; width: 90%"><font style="font-size: 10pt"><b>Description</b></font></td></tr>
  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><font style="font-size: 10pt">99.1</font></td>
    <td style="vertical-align: top; text-align: justify">&nbsp;</td>
    <td style="text-align: left; vertical-align: bottom"><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><A HREF="ea024187801ex99-1_sapiens.htm">Press release</A></p></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt; background-color: white">&nbsp;</p>


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<p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><b>SIGNATURES</b></p>

<p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white">&nbsp;</p>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; background-color: white">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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</p>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD COLSPAN="3"><font style="font-size: 10pt">SAPIENS INTERNATIONAL CORPORATION N.V.</font></td></tr>
  <tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD COLSPAN="3">&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <TD><font style="font-size: 10pt">Date: May 13, 2025</font></td>
    <TD><font style="font-size: 10pt">By:</font></td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">/s/ Roni Giladi</font></td></tr>
  <tr style="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</td>
    <TD STYLE="width: 4%">&nbsp;</td>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Name:&nbsp; </FONT></TD>
    <TD STYLE="width: 31%"><FONT STYLE="font-size: 10pt">Roni Giladi</FONT></TD></tr>
  <tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Financial Officer</FONT></TD></tr>
</table>
<p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white">&nbsp;</p>

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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ea024187801ex99-1_sapiens.htm
<DESCRIPTION>PRESS RELEASE
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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B><IMG SRC="ex99-1_001.jpg" ALT=""></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Global Insurance Leader Selected Sapiens to
Innovate Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>First London Market Insurer to Leverage Sapiens&rsquo;
Innovative SaaS Solution with LORS &amp; USM Messaging</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Rochelle Park, NJ, May 13, 2025</B> &ndash; Sapiens
International Corporation (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, today
announced that a European based global insurer has selected Sapiens ReinsuranceMaster
and Sapiens DataSuite end-to-end SaaS solution to modernise
its operations in the highly specialised London Market.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This marks a significant milestone for the insurer as it becomes the
first London Market insurer to utilise Sapiens&rsquo; innovative Lloyd's Outward Reinsurance Scheme (LORS) and Underwriting Support Message
(USM) features of Sapiens ReinsuranceMaster.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The implementation of Sapiens&rsquo; solution will replace the insurer&rsquo;s
legacy systems, streamline processes, and enhance operational efficiency, helping the company maintain its leadership in the competitive
insurance market. The collaboration underscores Sapiens&rsquo; commitment to serving the unique needs of the London Market, the world's
leading hub for specialty insurance and reinsurance.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sapiens ReinsuranceMaster offers the depth of functionality and capabilities
needed to modernise operations, improve efficiency, and better serve their clients with an integrated platform. This partnership with
Sapiens delivers long-term value and drives measurable impact.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;We are proud to support our client in their reinsurance business
management and accounting processes and to ensure they remain at the forefront of innovation and customer service,&rdquo; said Roni Al-Dor,
President and CEO of Sapiens. &ldquo;The partnership exemplifies Sapiens&rsquo; ability to deliver cutting-edge solutions for the world&rsquo;s
most sophisticated insurance markets, setting a new standard for other specialty insurers and syndicates in the London Market.&rdquo;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sapiens
ReinsuranceMaster is a comprehensive solution for superior management of large and multi-national reinsurance programs, providing
full financial control and flexibility across all lines of business. The solution supports the entire range of reinsurance contracts,
providing full support for all auditing requirements and a consolidated view of liabilities and risks, as well as helping prevent financial
leakage.&#8239;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sapiens
DataSuite is a data management solution that empowers insurers to produce actionable insights and maximize the value of their data
resulting in smarter decision making.&#8239;DataSuite is a modular, highly innovative, business intelligence solution designed specifically
for insurance markets.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="ex99-1_002.jpg" ALT="">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">www.sapiens.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B><IMG SRC="ex99-1_001.jpg" ALT=""></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Sapiens</B>&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sapiens International Corporation (NASDAQ and TASE: SPNS) is a global
leader in intelligent SaaS-based software solutions. With Sapiens&rsquo; robust platform, customer-driven partnerships, and rich ecosystem,
insurers are empowered to future-proof their organizations with operational excellence in a rapidly changing marketplace. Our Saas-based
solutions help insurers harness the power of AI and advanced automation to support core solutions for property and casualty, workers&rsquo;
compensation, and life insurance, including reinsurance, financial &amp; compliance, data &amp; analytics, digital, and decision management.
Sapiens boasts a longtime global presence, serving over 600 customers in more than 30 countries with its innovative offerings. Recognized
by industry experts and selected for the Microsoft Top 100 Partner program, Sapiens is committed to partnering with our customers for
their entire transformation journey and is continuously innovating to ensure their success.&#8239;&#8239;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For more information visit&#8239;https://sapiens.com&#8239;or
follow us on&#8239;LinkedIn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<BR>
<B>Investor and Media Contact&#8239;</B><BR>
<B>Yaffa Cohen-Ifrah&#8239;</B><BR>
<B>Sapiens Chief Marketing Officer and Head of Investor Relations&#8239;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mobile: +1 917 533 4782<BR>
Email: Yaffa.cohen-ifrah@sapiens.com&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Forward Looking Statements</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certain matters discussed in this press release that are incorporated
herein and therein by reference are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of
the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on our beliefs,
assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the
use of the words &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;may,&rdquo; &ldquo;will,&rdquo;
&ldquo;plan&rdquo; and similar expressions. Such statements reflect our current views with respect to future events and are subject to
certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements
to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements,
including, but not limited to:&#8239; the degree of our success in our plans to leverage our global footprint to grow our sales&#894;
the degree of our success in integrating the companies that we have acquired through the implementation of our M&amp;A growth strategy&#894;
the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential
new solutions&#894; our lengthy and complex sales cycles, which do not always result in the realization of revenues&#894; the degree of
our success in retaining our existing customers or competing effectively for greater market share&#894; the global macroeconomic environment,
including headwinds caused by inflation, relatively high interest rates, potentially unfavorable currency exchange rate movements, and
uncertain economic conditions, and their impact on our revenues, profitability and cash flows; difficulties in successfully planning and
managing changes in the size of our operations&#894; the frequency of the long-term, large, complex projects that we perform that involve
complex estimates of project costs and profit margins, which sometimes change mid-stream&#894; the challenges and potential liability
that heightened privacy laws and regulations pose to our business&#894; occasional disputes with clients, which may adversely impact our
results of operations and our reputation&#894; various intellectual property issues related to our business&#894; potential unanticipated
product vulnerabilities or cybersecurity breaches of our or our customers&rsquo; systems&#894; risks related to the insurance industry
in which our clients operate&#894; risks associated with our global sales and operations, such as changes in regulatory requirements,
wide-spread viruses and epidemics like the coronavirus epidemic,&#8239; and fluctuations in currency exchange rates&#894; and risks related
to our principal location in Israel and our status as a Cayman Islands company.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">While we believe such forward-looking statements are based on reasonable
assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual
results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under
the heading &ldquo;Risk Factors&rdquo; in our Annual Report on Form 20-F for the year ended December 31, 2023, to be filed in the near
future, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking
statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations
reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and
events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake
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