ION Acquisition Corp. 1, Ltd.  a special purpose acquisition company, announced that its shareholders voted to approve the previously announced business combination with Taboola.com Ltd , the leading recommendation platform for the open web, at its Extraordinary General Meeting held on June 28, 2021. Approximately 99% of the votes cast at the meeting voted to approve the transaction.

In connection with the previously announced business combination, holders of ION Class A ordinary shares reflecting approximately 7% of outstanding Class A Ordinary Shares exercised their right to redeem their shares.

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“We were thrilled to discover our shareholders hold the same view through their overwhelming support for our business combination”

The closing of the business combination is expected to take place on June 29. The transaction will generate approximately $526 million of proceeds upon closing, given the very low redemptions by ION shareholders. Following the closing, the Company’s ordinary shares and warrants will begin trading on the Nasdaq Global Select Market beginning on June 30 under the ticker symbols “TBLA” and “TBLAW” respectively.

“We believe Taboola has a unique combination of an outstanding leadership team, vast market opportunity and an attractive business model that combines growth with high profitability,” said Gilad Shany, CEO of ION. “We were thrilled to discover our shareholders hold the same view through their overwhelming support for our business combination,” continued Gilad. “We look forward to the next phase of our partnership with Taboola as it commences its journey in the public markets and further cements its leadership position in the Open Web.”

Important Information

Neither the SEC, any state securities commission or the Israel Securities Authority has approved or disapproved of the securities to be issued in connection with the Business Combination, or determined if the Registration Statement is accurate or adequate.

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Participants in the Solicitations

Taboola, ION and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitation of proxies from ION’s shareholders in connection with the proposed transaction. You can find more information about ION’s directors and executive officers in ION’s final prospectus dated October 1, 2020 and filed with the SEC on October 5, 2020. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests is included in the proxy statement/prospectus filed with the SEC on Form F-4. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act, or an exemption therefrom.