EBIX -1.04 to 4.62, an 8K filed this morning reported that they've gotten an extension of the previous forbearance agreement until December 17th ..... it might simply be Ch11 deferred, lol. The original agreement expired yesterday.
8K -
Effective on November 15, 2023, Ebix, Inc. (the “Company” or “Ebix”) entered into an Amended and Restated Forbearance Agreement (the “Agreement”), of the original Forbearance Agreement entered into on September 29, 2023 (the “Existing Agreement”), with certain subsidiaries of the Company as guarantors (the “Guarantors”) and lender parties thereto (the “Lenders”), Regions Bank, as administration agent and collateral agent (collectively, the “Agent”), relating to the credit agreement dated as of August 5, 2014 (as amended, restated, supplemented or otherwise modified and in effect from time to time, the “Credit Agreement”).
Pursuant to the Agreement, the Agent and the Lenders have agreed that, during the period from the Existing Forbearance Effective Date (as defined in the Agreement) to the earlier of (x) 11:59 p.m. New York City time, on December 17, 2023, and (y) the date on which any termination event, as set forth in the Agreement, has occurred, the Lenders will forbear from exercising any of their respective rights and remedies with respect to certain specified defaults and event of defaults as set forth in the Agreement.
The Agreement mandates that by November 30, 2023, the Company shall have delivered certain agreements and reports to the Agent and Lenders.
