8-K
filed August 30, 2024, 7:59 PM ET
CIK 0000814549
other material
confidence high
sentiment neutral
materiality 0.90
EBIX INC: going-concern / distress — Ebix exits Chapter 11; common stock cancelled, new equity issued to Plan Sponsor
EBIX INC
- Existing common stock cancelled without consideration; 30.9M shares worthless.
- Plan Sponsor (Eraaya Lifespaces, Vikas Lifecare, Vitasta Software) receives 100% of reorganized equity.
- Board reconstituted: Robin Raina (CEO) and Dr. Vikas K. Garg; CFO Amit Kumar Garg resigned.
- Company will file Form 15 to deregister and cease SEC reporting; OTC Pink listing to end.
- Litigation Trust established with Broadbent Advisors; GUC Recovery Pool for General Unsecured Claims.
Key facts
Extracted from this filing and checked against the source text.
Distress & Bankruptcy
SEC 8-K Item 1.03
confidence 0.9
EBIX INC entered chapter 11.
- Proceeding
- chapter 11
Exact text from the filing
On the Effective Date, the Plan became effective pursuant to its terms and the Debtors filed a Notice of Occurrence of Effective Date (the “ Effective Date Notice ”) with the Bankruptcy Court.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Rolf Herter departed as Director at EBIX INC.
- Action
- ceased
- Role
- Director
Exact text from the filing
Robin Raina, Hans U. Benz, Rolf Herter, Neil D. Eckert, Pavan Bhalla, Hans U. Keller, George W. Hebard III, Priyanka Kaul, Elizabeth A. LaPuma, and Jill M. Krueger ceased to be directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Neil D. Eckert departed as Director at EBIX INC.
- Action
- ceased
- Role
- Director
Exact text from the filing
Robin Raina, Hans U. Benz, Rolf Herter, Neil D. Eckert, Pavan Bhalla, Hans U. Keller, George W. Hebard III, Priyanka Kaul, Elizabeth A. LaPuma, and Jill M. Krueger ceased to be directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Pavan Bhalla departed as Director at EBIX INC.
- Action
- ceased
- Role
- Director
Exact text from the filing
Robin Raina, Hans U. Benz, Rolf Herter, Neil D. Eckert, Pavan Bhalla, Hans U. Keller, George W. Hebard III, Priyanka Kaul, Elizabeth A. LaPuma, and Jill M. Krueger ceased to be directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robin Raina departed as Director at EBIX INC.
- Action
- ceased
- Role
- Director
Exact text from the filing
Robin Raina, Hans U. Benz, Rolf Herter, Neil D. Eckert, Pavan Bhalla, Hans U. Keller, George W. Hebard III, Priyanka Kaul, Elizabeth A. LaPuma, and Jill M. Krueger ceased to be directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robin Raina was appointed as Director at EBIX INC.
- Action
- appointed
- Role
- Director
Exact text from the filing
the board of directors of the Company (the “ Board ”) consists of the following two directors: Robin Raina and Dr. Vikas K. Garg.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Amit Kumar Garg resigned as Chief Financial Officer at EBIX INC.
- Action
- resigned
- Role
- Chief Financial Officer
Exact text from the filing
In addition, Amit Kumar Garg resigned as Chief Financial Officer of the Company as of the Effective Date.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Elizabeth A. LaPuma departed as Director at EBIX INC.
- Action
- ceased
- Role
- Director
Exact text from the filing
Robin Raina, Hans U. Benz, Rolf Herter, Neil D. Eckert, Pavan Bhalla, Hans U. Keller, George W. Hebard III, Priyanka Kaul, Elizabeth A. LaPuma, and Jill M. Krueger ceased to be directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jill M. Krueger departed as Director at EBIX INC.
- Action
- ceased
- Role
- Director
Exact text from the filing
Robin Raina, Hans U. Benz, Rolf Herter, Neil D. Eckert, Pavan Bhalla, Hans U. Keller, George W. Hebard III, Priyanka Kaul, Elizabeth A. LaPuma, and Jill M. Krueger ceased to be directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Hans U. Keller departed as Director at EBIX INC.
- Action
- ceased
- Role
- Director
Exact text from the filing
Robin Raina, Hans U. Benz, Rolf Herter, Neil D. Eckert, Pavan Bhalla, Hans U. Keller, George W. Hebard III, Priyanka Kaul, Elizabeth A. LaPuma, and Jill M. Krueger ceased to be directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Priyanka Kaul departed as Director at EBIX INC.
- Action
- ceased
- Role
- Director
Exact text from the filing
Robin Raina, Hans U. Benz, Rolf Herter, Neil D. Eckert, Pavan Bhalla, Hans U. Keller, George W. Hebard III, Priyanka Kaul, Elizabeth A. LaPuma, and Jill M. Krueger ceased to be directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Dr. Vikas K. Garg was appointed as Director at EBIX INC.
- Action
- appointed
- Role
- Director
Exact text from the filing
the board of directors of the Company (the “ Board ”) consists of the following two directors: Robin Raina and Dr. Vikas K. Garg.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
George W. Hebard III departed as Director at EBIX INC.
- Action
- ceased
- Role
- Director
Exact text from the filing
Robin Raina, Hans U. Benz, Rolf Herter, Neil D. Eckert, Pavan Bhalla, Hans U. Keller, George W. Hebard III, Priyanka Kaul, Elizabeth A. LaPuma, and Jill M. Krueger ceased to be directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Hans U. Benz departed as Director at EBIX INC.
- Action
- ceased
- Role
- Director
Exact text from the filing
Robin Raina, Hans U. Benz, Rolf Herter, Neil D. Eckert, Pavan Bhalla, Hans U. Keller, George W. Hebard III, Priyanka Kaul, Elizabeth A. LaPuma, and Jill M. Krueger ceased to be directors of the Company.
View on SEC.gov
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