secwatch.observer — SEC 8-K summary
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Issuer:     EBIX INC (—)
CIK:        0000814549
Form:       8-K
Filed at:   2023-12-19T23:59:59+00:00
Accession:  0001193125-23-298190
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 1.03, 2.04, 3.01, 5.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ebix files for Chapter 11 bankruptcy; enters $105M DIP facility and stalking horse APA for NA L&A assets at $400M
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- Filed Chapter 11 on Dec 17, 2023; will operate as debtor-in-possession under Bankruptcy Court.
- RSA with consenting lenders (two-thirds of principal); DIP facility of $105M ($35M new money + $70M conversion).
- Stalking horse APA with Zinnia to buy NA L&A assets for $400M base; subject to higher bids and court approval.
- Nasdaq notified delisting; trading suspended Dec 28, 2023; company considering appeal.
- Approved retention bonuses for CFO Amit Garg ($200K + incentive up to $775K) and James Senge ($10K + up to $77.5K).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814549/000119312523298190/0001193125-23-298190-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814549/000119312523298190/d629924d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-298190

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