Ebix Plummets After Filing for Bankruptcy Protection (2)

Ebix tumbles as much as 73%, the most on record, and to the lowest intraday since May 2005, after the company filed for bankruptcy protection. Ebix said it reached a “stalking horse” agreement to sell its North American Life and Annuity assets to Zinnia for about $400m.

• The NA L&A Assets being sold, accounted for 14.5% of Ebix’s worldwide GAAP revenues for the Year-to-date 9-month period preceding Sep. 30th 2023, Ebix said in a statement
• U.S.-based Ebix filed for protection under Chapter 11 of the U.S. Bankruptcy Code
  • Ebix’s approximately 200 affiliates outside the US are not included in the ...