Published on 4/14/2008 in the Prospect News PIPE Daily.
New Issue: Ebix to raise $11.04 million in two private placements of shares
By Devika Patel
Knoxville, Tenn., April 14 - Ebix, Inc. has negotiated two private placements of common stock to raise $11.04 million, according to an 8-K filed Monday with the Securities and Exchange Commission.
In the first deal, which priced April 2, the company plans to sell 40,000 shares at $75.70 per share to Rennes Foundation for $3.03 million.
In the second deal, Ebix will sell 110,000 shares at $72.87 per share to Ashford Capital Management, Inc. for $8.02 million. This deal was arranged on April 7.
Atlanta-based Ebix provides software for the insurance industry.
Issuer: | Ebix, Inc.
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Issue: | Common stock
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Amount: | $11,043,700
|
Warrants: | No
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Stock symbol: | Nasdaq: EBIX
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|
First deal
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Amount: | $3,028,000
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Shares: | 40,000
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Price: | $75.70
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Investor: | Rennes Foundation
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Pricing date: | April 2
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Stock price: | $76.66 at close April 2
|
|
Second deal
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Amount: | $8,015,700
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Shares: | 110,000
|
Price: | $72.87
|
Investor: | Ashford Capital Management, Inc.
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Pricing date: | April 7
|
Stock price: | $75.36 at close April 7
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