Southeast News
Ebix Notes Sale of Unissued Stock to CF Epic Insurance
Atlanta-based Ebix, Inc., an international supplier of software and e-commerce solutions to the insurance industry, announced that it had sold 222,223 shares of its previously un-issued common stock to CF Epic Insurance and General Fund, an investment fund located in London, for a total price of $3,000,010, or $13.50 per share.
The price per share represents a significant premium over the last 30 days trailing closing prices for Ebix stock. After the sale of the stock, Ebix's cash balance after the investment approximates $10.8 million.
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